HomeMy WebLinkAbout93-235 - ResolutionsRESOLUTIONNO. 93-235
A RESOLUTION OF THE CITY OD~NCIL OF THE CITY OF RANCID
~ APPRDVING THE ~ OF A PORTION OF ~E
RAN~ ~ P~DEV~C~M~T ~ BY THE ~
~EAS, the Rancho O,cmmonga Redevelopmm~ Agency (the "Agencf') is
authorized pursuant to Chapter 8 (cum~encing with Section 33000) of Part 1 of
Division 24 of the California ~_ealth and Safety Code (the "Act") to issue
bonds for any of its corporate purposes; and
WHEREAS, the Agency is authorized pursuant to Sections 53570 through
53590 of the Government Oode of the State of California (the "Refunding La%f')
to issue its refund/rig bonds; and
WHEREAS, the Agency has heretofor issued its $107,750,000 initial
aggregate principal amount of Rancho ~__evelopment Project, 1990 Tax
Allocation Bonds (the "1990 Bonds"), the proceeds of which have been used to
refund certain obligations of the Agency and to finance a portion of t_he
Rancho RedevelopmentProject; and
WHEREAS, the ~ency is proposingto issue upto $69,500,000 aggregate
principal amount of its Rancho Redevelopment Project Refunding Tax Allocation
Bonds to refund aportion of the 1990 Bonds;
NC~, THEREFORE, the City Council of the City of Rancho(~does
hereby resolve, determine and order as follows:
Section 1. Approval of Financing. ~his City Council hereby
approves refinancing of a portion of the Project, by means of the issuance of
up to $69,500,000 principal amount of the Agency's Rancho Redevelc~
Project, Refunding Tax Allocation Parity Bonds, pursuant to provisions of the
Refunding Law and the Act.
Section 2. Effective Date.
immediately upon adoption.
This resolution shall take effect
PASSED, APPROVED, and ADOPIq~D this 15th day of December, 1993.
AYES: Alexander, Buquet, Gutierrez, Stout, Williams
NOES: None
ABS~T: None
Dennis L. Stout, Mayor
Debra J. ~ ,~ City Clerk
Resolution No. 93-235
Page2
I, DEBRA J. ADAMS, CITY ~.k~K of the City of Rancho Cucamonga, California, do
hereby oertify that the foregoing Resolution was duly passed, a~, and
adopted by the City Council of the City of Rancho Oacam0nga, California, at a
regular meeting of said City Council held on the 15th day of D~c~mbe~, 1993.
Exectfced this 16th day of December, 1993, at Rancho Cucamonga,
California.
Debra J. Ada~, City Clerk