HomeMy WebLinkAbout1988-047
J
.., '",
SBE00079-4/2824S/sk
02/05/88
RESOLUTION NO.
88-4 7
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE
ISSUANCE BY THE REDEVELOPMENT AGENCY OF THE CITY
OF SAN BERNARDINO OF ITS $4,000,000 REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO, NORTHWEST
REDEVELOPMENT PROJECT, 1988 TAX ALLOCATION NOTES,
TAXABLE SERIES, AND MAKING CERTAIN DETERMINATIONS
RELATING THERETO
WHEREAS,
the
Redevelopment
Agency
of
the
City
of
San Bernardino (the "Agency"), is a redevelopment agency (a public
body,
corporate
and
politic)
duly created,
established
and
authorized to transact business and exercise its powers, all under
and pursuant to the Community Redevelopment Law [Part 1 of
Division 24 (commencing with Section 33000) of the Health and Safety
Code of the State of California] (the "Law") and the powers of the
Agency include the power to issue bonds for any of its corporate
purposes; and
WHEREAS, the Redevelopment Plan for a redevelopment project
known and designated as the "Northwest Redevelopment Project" has
been adopted and approved by Ordinance No. MC-189 of the City of San
Bernardino, which became effective on August 5, 1982 and all
requirements of law for and precedent to the adoption and approval
of the Redevelopment Plan have been duly complied with; and
- I -
13
WHEREAS, the Agency has adopted its Resolution entitled:
.- ,
"RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO
AUTHORIZING THE ISSUANCE OF AN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $4,000,000 OF TAX
ALLOCATION NOTES, TAXABLE SERIES, TO FINANCE A
PORTION OF THE COST OF A REDEVELOPMENT PROJECT
KNOWN AS THE NORTHWEST REDEVELOPMENT PROJECT"
and
WHEREAS, under and pursuant to the above Resolution the
Agency has authorized the issuance of $4,000,000 Redevelopment
Agency of the City of San Bernardino, Northwest Redevelopment
Project, 1988 Tax Allocation Notes, Taxable Series (the "Notes").
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE, DETERMINE AND
ORDER AS FOLLOWS:
Section 1.
Approval of Issuance of Notes. The issuance
of $4,000,000 principal amount of "Redevelopment Agency of the Ci ty
of San Bernardino,
Northwest Redevelopment Project, 1988 Tax
Allocation Notes, Taxable Series" for the corporate purposes of the
Agency aiding in the financing of the Northwest 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
approved pursuant to Health and Safety Code Section 33640.
- 2 -
..
Section 2.
Effective Date.
This
Resolution
shall
~
take effect upon adoption.
I HEREBY CERTIFY
adopted by the Mayor
San Bernardino at a
held on the 15th day of
the following vote, to wit:
that the foregoing
and Common Counci 1
reqular
Februarv
resolution was duly
of the Ci ty of
meeting thereof,
1988, by
AYES:
Council Members Estrada, Reilly, Flores, Maudsley,
Minor, Pope-Ludlam, Miller
NAYS:
None
ABSENT:
None
~~a,1~
Citf Clerk
day of
The foregoing
February
resolution is hereby approved this
, 1988.
/71L
I
~t~ /J~
Mayor of fhe City of /
San Bernardino
Approved as to form and legal content:
BY~~
- 3 -