HomeMy WebLinkAbout86-204 - ResolutionsRESOLUTION NO. 86-204
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RAIqCH0
CUCAMONGA DETERMINING THAT CIVIC CENTER FACILITIES ARE OF
BENEFIT TO RANCHO REDEVELOPMENT PROJECT AREA AND
DETERMINING OTHER MATTERS PROPERLY RELATING TBERETO
RESOLVED, by the City Council of the City of Rancho Cucamonga, as
follows:
WBEREAS, The Rancho Cucamonga Redevelopmerit Agency (the "Agency")
proposes to authorize, sell and deliver $32,345,000 principal amount of its
Rancho Redevelopmeat Project Tax Allocation Bonds, 1986, Series A, a portion of
the proceeds of which will be used to finance the costs of certain civic center
facilities (the "Facilities") to be located within the Agency's Rancho
Redevelopment Project Area (the "Project Area") and to pay such Bonds with
certain Tax Revenues (as such term is defined in the 1986 Supplemental
Resolution authorizing the issuance of such Bonds):
WHEREAS, The Agency is authorized by Section 33445 of the Health and
Safety Code to so apply such Tax Revenues upon the holding of a public hearing
by the City as required by Section 33679 of said Code and upon the making of
certain determinations by the City Council of the City and by the Agency; and
WHEREAS, The City Council has duly noticed and on this day duly held
such public hearing at which all persons interested were given an opportunity
to be heard, as evidenced by the record of such proceedings, including the
affidavit of publication of notice 'on file therein.
NOW, THEREFORE, IT IS DETERMINED AND ORDERED, by the City Council of
the City of Rencho Cucamonga, as follows:
Based on the reports of the City and Agency staff and
the other evidence on file in the proceedings for the
public hearing and the financing of the Facilities,
the Facilities are hereby determined to be of benefit
to the Project Area· Based on the foregoing, it is
further determined that there is no reasonable means
of financing the Facilities other than by the issuance
of the Agency's Rancho Redevelopmeat Project Tax
Allocation Bonds, 198~ Series A.
2. The determinations set forth in Section I. hereof are
final and conclusive.
3. Ibis Resolution shall take effect from and after its
adoption·
PASSED, APPROVRD, and ADOPTED this 16th day of July, 1986.
AYES: Mikels, Buquet, Ring, Dahl, Wright
NOES: None
ABSENT: None
Resolution No. 86-204
Page 2
ATTEST:
Beverly A.lutbelet, City Clerk'
I, BEVERLY A. AUTHELET, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed,
approved, and adopted by the City Council of the City of Rancho Cucamonga,
California, at a regular mee~inE of said City Council held on the 16th day of
July, 1986.
Executed this 17~h day of July, 198~ at l~ncbo Cuca~onga, California.
B thelet, City Clerk