HomeMy WebLinkAbout224 RDA_CCv0001.pdf RESOLUTION NO. 224
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
REDLANDS ADOPTING A STATEMENT OF INDEBTEDNESS
OF THE REDEVELOPMENT AGENCY OF THE CITY OF
REDLANDS, REDLANDS REDEVELOPMENT PROJECT,
REPORT YEAR: 1992-1993
WHEREAS, Health and Safety Code Section 33681 requires the
Redevelopment Agency of the City of Redlands (the "Agency") to
allocate, prior to May 10, 1993 , the sum of Four Hundred sixty-six
Thousand Five Hundred Eighty-Five Dollars and 07/100 ($466, 585. 07)
to the San Bernardino County Auditor for deposit in the Educational
Revenue Augmentation Fund created pursuant to Section 97. 03 of the
Revenue and Tax Code.
WHEREAS, pursuant to subdivision (b) of Health and Safety Code
Section 33682 , during the 1992-93 fiscal year the Agency may
allocate to the San Bernardino County Auditor less than the amount
required by Section 33681 if the Agency (i) has no other funds to
make the allocation required by Section 33681, (ii) the Agency
adopts a resolution pursuant to subdivision (c) of Section 33682
relating to its existing indebtedness and, (iii) pursuant to
subdivision (d) of Section 33682 , enters into an agreement with the
City Council of the City of Redlands by February 15, 1993 , to fund
payment of the difference between the full amount required to be
paid pursuant to subdivision (a) of Section 33681 and the amount
available for allocation by the Agency.
WHEREAS, the purpose of this resolution is to comply with the
requirements of subdivision (c) of Section 33682 .
DE032468:12/14/92
to adopt a resolution relating to the Agency' s existing
indebtedness incurred prior to September 15, 1992 .
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF REDLANDS AS FOLLOWS:
1. The City Council hereby finds that the Statement of
Indebtedness attached hereto as Exhibit "All conforms to the
requirements of subdivision (c) (1) of Section 33682 and that the
information contained in the Statement of Indebtedness has been
certified by the chief fiscal officer of the Agency in accordance
with the requirements of subdivision (c) (2) of Section 33682 .
2 . This Resolution shall take effect upon adoption.
Adopted, signed and approved this 15th day of December, 1992.
CITY OF REDLANDS,.--.
A
P 11
By: MAYOR
ATTEST:
Ci
DE032451:12/14/92 -2-
STATEMENT OF INDEBTEDNESS PAGE I'OF2"e
Redevelopment Agency of the City of Redlands
Redlands Redevelopment Project
Report Year: 1992 - 93
ORIGINAL INTEREST OUTSTANDING DEBT DUE DURING REPORTING YEAR
DEBT IDENTIFICATION DATE PRINCIPAL TERM RATE REPORTING YEAR PRINCIPAL INTEREST
A 1987 Tax Allocation Bonds 2/01/87 17,470,000 28 yrs. varies 32,197,464 305,000 1,030,109
B 1987 Su6or. Tax Allocation Bonds 3/17/87 9385 000 30 yrs. I varies 19,162,391 135,000 •°" 604,151
C 1989 Porkinq Revenue Bonds 6/01/89 7,030,000 27 yrs. varies 14 423,155 115,000 467,748
Dj Shoppers Lane Note 3/19/86 192,107 10 yrs. Net 6.629% 190,253 35,073 12,490
E Redlands Federal Savin s & Loan 3/19/85 83,305 8 rs. 6.25% -49,913 47,711 m_ M2200
F P2yable tom 6/83 443,668 1 yr. -• 443,668 4431668 --
G Payable to City 4/18/89 549,037 12 yrs. 8% - 1995 700,962 --
TOTAL THIS PAGE 67,167,806 1,081 454 2,1 16,698
TOTAL OTHER PAGES 1,841,406 1,840,207 1,199
GRAND TOTAL 69 009 212. 2921,661 2,1 17,897
AVAILABLE FINANCING 0
NET REQUIREMENTS 69,009,212 2,921,661 2,1 17,897
PURPOSE OF INDEBTEDNESS Pursuant to Section 33675 of the Health & Safety Code,
I hereby certify that the above is a true and accurate
(A) Refunding Tax Allocation Bands Statement of Indeb ness.
(B) Public improvements Construction
(C) Refunding Parking lease Revenue Bands(reimbursement of City
Lose payments)per Reimbursement Agreement Signature I Date
(ts) Property Acquislion Pursuant to Lease/Option Agreement
(E) Note Funding Property Acquisition
(F) Cooperation Agreement with City Steve Chapman � MFinance Director
Iii Promissory Note Funding Low income Senior dousing Print Name
a
STATEMENT OF INDEBTEDNESS PAGE 2OF2°'
Redevelopment Agency of the City of Redlands
Redlands Redevelopment Project
Report Year: 1992 - 93
ORIGINAL INTEREST OUTSTANDING DEBT DUE DURING REPORTING YEAR
DEBT IDENTIFICATION DATE PRINCIPAL TERM RATE REPORTING YEAR PRINCIPAL INTEREST
N Plaza Maintenance & Operations 1/1/65 N/A N/A -• 22A,786 224,786 --
I Redlands Mall Parking Lot 11/1/75 N/A N/A -- 167,555 167,555 .. -
j
Myrtle & Olive Streets 10/21/87 235,000 5 yrs. 7.654% 48,199 47,000 1,199
Housin Set-Aside 7/01/92 644,087 N/A -- 6dd 087 644,087 •-
L Housing Fund Deficit 6/30/91 290,149 N/A -_ 290,149 290,149 --
Educational Revenue
jM Augmentation Fund 7/01/92 466,630 N/A -- 466,630 466,630 --
(NI PSB Acquisition 2/18/86 3,440,000 18 mos. -x 0 0 0
O Santa Fe Depot 6/18/91 80,000 N/A -- 0 0 0
(P)
Q)
R
S
TOTAL THIS PANE 1,841,406 1,840,207 1,199
(H) Maintenance&Operation Agreement (N) Land Acquisition per DDA
(1) Maintenance &Operation Agreement (0) Utilities Undergrounding per DDA
Li) Pubtic improvements Notes (P)
10 Low/Mod Housing Set-Aside per CRL (a)
(L) Deficit in Housing Trust Fund pursuant to Agency Resolution. (R)
(M) Payment Due per SB 844. (S)