HomeMy WebLinkAbout83-179 - ResolutionsRESOLUTION NO. 83-179
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA, APPROVING THE ISSUANCE BY THE
REDEVELOPMENT AGENCY OF ITS RANCHO REDEVELOPMENT PROJECT
TAX ALLOCATION BONDS AND MAKING CERTAIN DETERMINATIONS
RELATING THERETO.
WHEREAS, the Redevelopment Agency of the City of Rancho Cucamonga (the
"Agency") is a redevelopment agency duly created, established and authorized
to transact business and exercise its powers, all under and pursuant to the
Community Redevelopment Law, being Section 33000 and following of the Health
and Safety Code of the State of California, and the powers of the Agency
include the power to issue bonds for any of its corporate purposes; and
WHEREAS, a redevelopment plan, known asthe Rancho Redevelopment Project,
has been adopted and approved by Ordinance No. 166 of the City, which was
adopted on December 23, 1981; and
WHEREAS, the Agency has adopted its resolution entitled, "Resolution of
the Redevelopment Agency of the City of Rancho Cucamonga Authorizing the
Issuance of up to $25,000,000.00 Principal Amount of Tax Allocation Bonds of
Said Agency to Finance a Portion of the Cost of a Redevelopment Project Known
as the Rancho Redevelopment Project;" and
WHEREAS, under and pursuant to the above resolution, the Agency has
authorized the issuance of not to exceed $25,000,000.00 Rancho Redevelopment
Project Tax Allocation Bonds (the "Bonds");
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Rancho
Cucamonga as follows:
Section 1. Approval of Issuance of Bonds. The issuance of not to exceed
$25,000,000.00 principal amount Rancho Redevelopment Project Tax Allocation
Bonds, in order to aid in the financing of the Rancho Redevelopment Project
and for other purposes related thereto, all of which constitute a
"redevelopmerit activity," as such term is defined in Health and Safety Code
Section 33678, is hereby authorized and approved pursuant to Health and Safety
Code Section 33640.
Section 2.
adoption.
Effective Date. This Resolution shall take effect upon
PASSED, APPROVED, and ADOPTED this 19th day of October, 1983.
AYES:
Dahl, Buquet, Schlosser, Frost, Mikels
NOES: None
ABSENT: None
D.Mikels, ' May~r '
ATTEST: