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RESOLUTION NO. 81-627
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AMENDING RESOLUTION 81-452
REGARDING AN APPLICATION FOR INDUSTRIAL DEVELOPMENT
BOND FINANCING SUBMITTED BY LA QUINTA MOTOR INNS. INC.
The Mayor and Common Council on September 30. 1981. adopted the
following Resolution:
RESOLUTION NO. 81-452
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO FINDING THAT AN APPLICATION
FOR INDUSTRIAL DEVELOPMENT BOND FINANCING HAS BEEN
SUBMITTED PURSUANT TO THE PROVISIONS OF ORDINANCE NO.
3815 OF THE CITY FOR A CERTAIN PROJECT. FINDING THAT
SAID APPLICATION COMPLIES WITH THE PROVISIONS AND
REQUIREMENTS OF SAID ORDINANCE NO. 3815; APPROVING
SAID APPLICATION AND THE PROJECT TO WHICH IT REFERS;
DIRECTING THE PREPARATION OF A PROJECT AGREEMENT. A
RESOLUTION OF ISSUANCE AND SUCH OTHER LEGAL DOCUMENTS
AS MAY BE NECESSARY TO CARRY OUT SAID PROJECT AND
PROVIDE FOR THE ISSUANCE OF INDUSTRIAL DEVELOPMENT
REVENUE BONDS THEREFOR; AND MAKING CERTAIN OTHER
FINDINGS AND DETERMINATIONS IN CONNECTION THEREWITH.
tA QUINTA MOTOR INNS. INC.; and
WHEREAS. the Application for Industrial Development Bond Financing
submitted and approved by said Resolution No. 81-452, requested the
issuance of an amount of not to exceed $7.000.000 for the purpose of
financing the project contained therein; and
WHEREAS. La Quinta Motor Inns. Inc.. has requested that their
application be amended from an amount not to exceed $7.000.000 to an
amount not to exceed $10.000.000 for the issuance of industrial development
bonds.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Common Council of the
City of San Bernardino as follows:
SECTION 1. Resolution No. 81-452, adopted September 30, 1981, is
hereby amended. changing the requested .amount of issuance of industrial
development bonds from the principal amount of $7,000,000 to an amount not
to exceed $10.000,000.
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SECTION 2. The Redevelopment Agency, as Coordinator for the City
of San Bernardino for.the City's Industrial Development Bond Program,
is instructed to amend the Application submitted by La Quinta Motor Inns,
Inc. to revise the requested lOB funding amount from $7,000,000 to
$10,000,000.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by
the Mayor and Common Council of the City of San Bernardino at a reqular
Meeting thereof, held on the 2lstdayof December ,1981, by the following
vote, to wit:
AYES:
COUNCIL MEMBERS: Castaneda, Reilly,
Hernandez, Botts, Hobbs, strickler
None
None
NAYS:
ABSENT:
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CITY' CLERK
The foregoing Resolution is hereby approved this~ day of
December, 1981. ~
APPROVED AS TO FORM: e?
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CITY ATTORNEY