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HomeMy WebLinkAbout4930_CCv0001.pdf RESOLUTION NO. 4930 RESOLUTION OF THE CITY COUNCIL 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, 11ealth 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 has no other funds to make the allocation required by Section 33681 and the Agency adopts a resolution pursuant to subdivision (c) of Section 33682 relating to the Agency's existing indebtedness and, 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, in order to comply with the requirements of subdivision (c) (3) of Section 33682 , the City Council is required to adopt a resolution relating to the Agency ' s existing indebtedness incurred prior to September 15, 1992 . DE032451:12/14/92 NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS AS FOLLOWS: 1. The Agency hereby finds that the Statement of Indebtedness attached hereto 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 . REDEVELOPMENT AGENCY OF THE CITY OF RR DLANRS 1 4 By: CHAIRMAN ATTEST: Secret ry L t DE032468:12/14/92 -2- STATEMENT OF INDEBTEDNESS PAGE T`OF2 " ERedevelopment Agency of the City of Redlands H 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 Subor, Tax Allocation Bonds 3/17/87 9385000 30 yrs. varies 19,162,391 135 000 •' 604 151 1 C 1989 Parking Revenue Bonds 6/01/89 7,030,000 27 yrs. varies 14,423,155 115,000 467,748 i D Sho rs Lane Note 3/19/86 192,107 10 yrs. Net 6.629% 190,253 35,073 12,490 JEERedlands Federal Savings & Loan 3/19/85 83 305 8 yrs. 6.25% '49,913 47,713 2,200 LF1 P2yable to Ci 6/83 1 443,668 1 -- 443,668 443,668 - Gy Payable to Ci 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 2,921,661 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 here6y certify that the above is a true and accurate (A) Refunding Tax Ailocoiion Bonds Statement of Indeb ness, (8) Public Improvements Constnxiion (C) Refunding Parking lease Revenue Bands(reimbursement of City 21 lease payments) per Reimbursement Agreement Signature Date (b) Property Acquislion Pursuant to lease/Oplion Agreement (E) Note Funding Property Acquisition (F) Cooperation Agreement With City Steve Chapman Finance Director (G) Promissory Mole Funding Low Income Senior dousing Print Name Tit e 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 H Plaza Maintenance & Operations 1/1/65 N/A N/A 224,786 224,786 - I Redlands Mall Parking Lot 11/1/75 N/A N/A -- 167,555 167,555 -- Myrtle & Olive Streets 10/21/87 235,000 5 yrs. 7.654% 48,199 47,000 1,199 K Housin Set-Aside 7/01/92 644,087 N/A -- 644,087 644,087 -- L Housing Fund Deficit 6/30/91 290,149 N/A - 290,149 290,149 -- Educational Revenue (M) Augmentation Fund 7/01/92 466,630 N/A -- 466,630 466,630 -- N PSB Acquisition 2/18/86 3,440,000 18 mos. -- 0 0 0 (©) Santa Fe Depot 6/18/91 80,000 N/A -- 0 0 0 (P) R S TOTAL THIS PAGE 1,841,406 1,840,207 1,199 (H) Maintenance d Operation Agreement (NJ Land Acquisilion per DDA III Maintenance &Operoiion Agreement IOJ Utilities Undergrounding per DDA 0) Public improvements Notes 10 (1I Low/Mod housing Sal-Aside per CRL 10) (0 Deficit in Housing Trust Fund pursuant to Agency Resolution. IRI IMI Payment Due per S8 844. ISJ