HomeMy WebLinkAbout5054RESOLUTION NO 5054
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF REDLANDS CALIFORNIA, APPROVING FINANCING
OF A PORTION OF THE REDLANDS REDEVELOPMENT
PROJECT BY THE REDEVELOPMENT AGENCY OF THE
CITY OF REDLANDS
WHEREAS the Redevelopment Agency of the City of Redlands
(the "Agency") is authorized pursuant to Chapter 8 (commencing with
Section 33000) of Part 1 of Division 24 of the California Health
and Safety Code (the "Act") to issue bonds for any of its corporate
purposes and
WHEREAS the Agency in order to provide for the
refinancing of a portion of the Redlands Redevelopment Project (the
"Project") has indicated its intention to issue up to $23 500 000
aggregate principal amount of Redlands Redevelopment Project 1994
Tax Allocation Refunding Bonds Series A and up to $8 000 000 of
Redlands Redevelopment Project 1994 Taxable Tax Allocation
Refunding Parity Bonds the proceeds of which will be used to
finance and refinance a portion of the Project
NOW THEREFORE BE IT RESOLVED DETERMINED AND ORDERED by
the City Council of the City of Redlands as follows
SECTION 1 Approval of Financing This City Council
hereby approves the financing of a portion of the Project which
constitutes a "redevelopment activity" as such term is defined in
the Act by means of the issuance of up to $23 500 000 principal
amount of the Agency s Redlands Redevelopment Project 1994 Tax
Allocation Refunding Bonds Series A and up to $8 000 000 of
Redlands Redevelopment Project 1994 Taxable Tax Allocation
Refunding Parity Bonds
SECTION 2 Effective Date This Resolution shall take
effect immediately upon adoption
ADOPTED this 15th day of February
ATTEST
KAB189399
1994
Swen Larson Mayor
I Lorrie Poyzer City Clerk of the City of Redlands
California do hereby certify that the foregoing Resolution was
regularly introduced and adopted by the City Council of the City of
Redlands California at a regular meeting thereof held on the 15th
day of February 1994 by the following vote of the City Council
AYES Councilmembers Foster, Gilbreath Mayor Larson
NOES Councilmember Cunningham
ABSENT Councilmember Gil
ABSTAIN None
IN WITNESS WHEREOF I have hereunto set my hand and
affixed the official seal of the City of Redlands California this
15th day of February 1994
KA8189399
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