HomeMy WebLinkAbout1994-09-06; City Council; Resolution 94-252-*
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0 0 EXHIBIT 1
RESOLUTION NO. 94-252
A RESOLUTION OF THE CITY OF CARLSBAD, CALIFORNIA,
AUTHORIZING THE ISSUANCE, SALE AND DELMZRY OF
MULTIFAMILY HOUSING REVENUE REFUNDING BONDS BY THE
CARLSBAD HOUSING AND REDEVELOPMENT COMMISSION
(THE "COMMISSION") IN A PRINCIPAL AMOUNT NOT TO
EXCEED $15,500,000 FORTHE PURPOSE OF REFUNDING BONDS
PREVLOUSLY ISSUED BY THE COMMISSION TO FINANCE THE
COST OF A MULTIFAMILY RENTAL HOUSING PROJECT, AND
CERTAIN OTHER ACTIONS WITH REGARD TO THE SEASCAPE
VILLAGE PROJECT
WHEREAS, the City Council has conducted a public hearing regarding the
issuance of the Bonds and has determined the issuance of the Bonds to be in the
12 public interest, the proceeds of which are to be used exclusively to refund the
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Prior Bonds and to refinance the Project, all in furtherance of the purposes of the
law and the public safety, health and welfare of the citizens of the State of
l5 (( California and the City.
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NOW, THEREFORE, BE IT RESOLVED by rhe City Council of the City of
Carlsbad as follows:
1. That the above recitals are true and correct.
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of the Code, the City Council hereby approves the issuance by the Commission 21
2. That, in accordance with the procedures set forth in Section 147(f)
22 I/ of the Bonds in an aggregate principal amount not the exceed $15,500,000. It
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is the purpose and intent of the City Council that this resolution constitute
approval for the issuance of the Bonds by the applicable elected representative
of the governmental unit having jurisdiction over the area in which the Project
27 is located in accordance with Section 147(0 of the Code.
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3. That this resolution shall take effect on the date of its adoption.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City
Council of the City of Carlsbad, California on the 6th day of SEPTEMBER
, 1994, by the following vote, to wit:
AYES: Council Members Lewis, Stanton, Kulchin, Nygaard, Finnil:
NOES: None
ABSENT: None
ATTEST:
ALETEiA L. RAUTENKRANZ, City Clerk
(SEAL)