HomeMy WebLinkAbout3950_CCv0001.pdf RESOLUTION NO . 3950
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDLANDS APPROVING THE ISSUANCE BY THE REDE-
VELOPMENT AGENCY OF THE CITY OF REDLANDS OF
ITS REDLANDS REDEVELOPMENT PROJECT TAX ALLO-
CATION BONDS AND MAKING CERTAIN DETERMINATIONS
RELATING THERETO.
WHEREAS , the Redevelopment Agency of the City of
Redlands (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 Redevelop-
ment 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 corpo-
rate purposes ; and
WHEREAS , a redevelopment plan, known as the Redlands
Redevelopment Project , has been adopted and approved by Ordi-
nance No. 1500 of the City, which was adopted on September 7
1972 ; and
WHEREAS , the Agency has adopted its resolution entitled,
rrResolution of the Redevelopment A ency of the City of Redlands
Authorizing the Issuance of up to 10 ,000 ,000 Principal Amount
of Tax Allocation Bonds of Said Agency to Finance a Portion of
the Cost of a Redevelopment Project Known as the Redlands Re-
development Project ; " and
WHEREAS , under and pursuant to the above resolution,
the Agency has authorized the issuance of not to exceed
$10 , 000 , 000 Redlands Revelopment Project Tax Allocation Bonds
(the "Bonds") ;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
REDLANDS does hereby resolve and declare as follows :
SECTION ONE: Approval of Issuance of Bonds . The
issuance of not to exceed $10 , 000 , 000 principal amount Redlands
Redevelopment Project Tax Allocation Bonds , in order to aid in
the financing of the Redlands Redevelopment Project and for
other purposes related thereto, all of which constitute a
"redevelopment activity, " as such term is defined in Health
and Safety Code Section 33678 , is hereby authorized and ap-
proved pursuant to Health and Safety Code Section 33640 .
SECTION TWO : Effective Date. This Resolution shall
take effect upon adoption.
ADOPTED, SIGNED AND APPROVED this 6th day of Larch,
1984 .
Magor of the City of Redlands
ATTEST:
Clerk
Resolution No. 3950
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