HomeMy WebLinkAbout1988-02-02; City Council; Resolution 88-28f 3
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RESOLUTION NO. 88-28
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARL$
CALIFORNIA, APPROVING THE ISSUANCE BY THE REDEVELO1
AGENCY OF THE CITY OF CARLSBAD OF ITS VILLAGE
REDEVELOPMENT PROJECT AREA TAX ALLOCATION BONDS, SI
A, AND MAKING CERTAIN DETERMINATIONS RELATING THERl
WHEREAS, the Redevelopment Agency of the City of
Carlsbad (the I1Agencyf1) is a redevelopment agency duly
created, established and authorized to transact busines!
exercises its powers, all under and pursuant to the Com~
Redevelopment Law (Part 1 of Division 24 (commencing wii
Section 330000) of the Health and Safety Code of the Sti
California) and the powers of the Agency include the pol
issue bonds for any of its corporate purposes; and
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WHEREAS, a Redevelopment Plan for a Redevelopment
Project known at the Village Redevelopment ProjectI1 ha!
adopted and approved by Ordinance No.9639, of the City (
Carlsbad (the '*Citymf), which became effective on Ausust
1982, and which has been subsequently amended, and all
requirements of law for and precedent to the adoption ai
approval of said Redevelopment Plan have been duly comp.
with: and
WHEREAS, the Agency has adopted its resolution ent
RESOLUTION TO THE HOUSING AND
REDEVELOPMF,NT COMMISSION THE
REDEVELOPMENT AGENCY OF THE CITY OF
CARISBAD AUTHORIZING THE ISSUANCE AND
SALE OF TAX ALLOCATION BONDS IN THE
APPROXIMATE PRINCIPAL AMOUNT OF NOT TO
EXCEED FOURTEEN MILLION DOLLARS
($14,000,000) FOR THE VILLAGE
REDEVELOPMENT PROJECT, APPROVING THE FORM OF NOTICE OF INTENTION TO SELL SAID BONDS AND DIRECTING THE PUBLICATION THEREOF AND
APPROVING THE FORM OF INDENTURE AND
OFFICIAL STATEMENT
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1 /j WHEREAS, under and pursuant to the above-referencec
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Resolution, the Agency has authorized the issuance of nc
exceed $14,000,000 Village Redevelopment Project Area Tz
Allocation Bonds, Series A (the "Bondstq) ;
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NOW THEREFORE, BE IT RESOLVED, DETERMINED AND ORDEl
THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, A!
FOLLOWS : 7
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SECTION 1. Awroval of Issuance of Bonds. The City COT hereby approves the issuance of a principal amount of nc exceed $14,000,000 "Redevelopment Agency of the City of Carlsbad, Village Redevelopment Project Area TAX Allocai Bonds, Series A", in order to aid in the financing of tl Redevelopment Plan, and for other purposes related therc all of which constitute a "redevelopment activity", as ! term is defined in Health and Safety Code Section 33678 pursuant to the terms of the Agency resolution referencc the recitals hereof and the accompanying Indenture.
l3 SECTION 2. Effective Date. This Resolution shall take
14 effect upon adoption.
16 certification to be filed in the Office of the City Cle: this resolution and shall cause this resolution and his l5 SECTION 3. The City Clerk shall certify to the adoptiol
17 I! PASSED, APPROVED AND ADOPTED, by the City Council (
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1 City of Carlsbad, California, held on the 2nd day of
February, 1988, by the following vote, to wit:
AYES: Council Members Lewis, Kulchin, Pettine, Mamaux and 1
a I1 NOES: None
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ABSENT : None
ABSTAIN : None
ATTEST:
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REN R. KUNDTZ, Deputy City Clerk
(SEAL)