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1 RESOLUTION NO. ~/~
2 RESOLUTION BY THE MAYOR AND THE COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO APPROVING THE ISSUANCE BY THE REDEVELOPMENT
3 AGENCY OF THE CITY OF SAN BERNARDINO, CALIFORNIA, OF ITS CENTRAL
CITY SOUTH REDEVELOPMENT PROJECT, TAX ALLOCATION BONDS, ISSUE OF
4 1978, FOR ITS CORPORATE PURPOSES.
5 WHEREAS, The Redevelopment Agency of the City of San
6 Bernardino, California (the "Agency"), is a redevelopment agency
7 (a public body, corporate and politic) duly created, established
8 and authorized to transact business and exercise its powers, all
9 under and pursuant to the Community Redevelopment Law [Part 1 of
10 Division 24 (commencing with Section 33000) of the Health and
11 Safety Code of the State of California] and the powers of the Agency
12 include the power to issue bonds for any of its corporate purposes;
13 and
14
WHEREAS, a Redevelopment Plan for a redevelopment project
15 known as the "Central City South Redevelopment Project" has been
16 adopted and approved by the City of San Bernardino ("City") and
17 all requirements of law for and precedent to the adoption and
18 approval of said Redevelopment Plan have been duly complied with;
19 and
20 WHEREAS, the Agency intends to authorize the issuance and
21 sale of tax allocation bonds not in excess of $1,500,000 principal
22 amount to be designated Redevelopment Agency of the City of San
23 Bernardino, Central City South, Tax Allocation Bonds, Issue of 1978,
24 (the "Bonds") for the corporate purposes of the Agency.
25 NOW, THEREFORE, THE MAYOR AND THE COMMON COUNCIL OF THE
26 CITY OF SAN BERNARDINO DO HEREBY RESOLVE, DETERMINE AND ORDER AS
27 FOLLOWS:
28
1
Section 1. Approval of Issuance of Bonds. The issuance
2 of tax allocation bonds not in excess of $1,500,000 principal
3 amount of "Redevelopment Agency of the City of San Bernardino,
4 Central City South, Tax Allocation Bonds, Issue of 1978", for the
5 corporate purposes of the Agency aiding in the financing of the
6 Central City South Redevelopment Project and for other purposes
7 related thereto, is hereby authorized and approved.
8 Section 2. It is recognized that the Resolution of
9 Issuance of the Agency relating to this issue is not in final form,
10 it being understood that details may be changed by the Agency to
11 take advantage of market conditions, but the maximum amount of
12 bonds herein approved ($1,500,000) shall not be increased without
13 the approval of the Mayor and Common.
14 I HEREBY CERTIFY that the foregoing resolution was duly
15 adopted by the Mayor and Common Council of the City of San Bernar-
16 dino at a regular meeting thereof, held on the 6th day of February,
17 1978, by the following vote, to-wit:
ABSENT:
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AYES:
NAYS:
The foregoing
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27 Approved as to form:
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