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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 SOUTHEAST
INDUSTRIAL PARK, TAX ALLOCATION BONDS, ISSUE OF 1978, FOR ITS
4 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
12 Agency include the power to issue bonds for any of its corporate
13 purposes and the power to issue refunding bonds for the purpose of
14 paying or retiring bonds previously issued by it; and
15 WHEREAS, a Redevelopment Plan for a redevelopment project
16 known as the "Southeast Industrial Park Industrial-Transportation-
17 Distribution Center" has been adopted and approved by the City of
18 San Bernardino ("City") and all requirements of law for and pre-
19 cedent to the adoption and approval of said Redevelopment Plan have
20 been duly complied with, and the Agency has issued $5,000,000
21 "Southeast Industrial Park Redevelopment Project Area, Negotiable
22 Promissory Notes, Issue of 1976", all of which are presently
23 outstanding; and
24 WHEREAS, The Agency intends to authorize the issuance
25 and sale of tax allocation bonds not in excess of $10,000,000
26 principal amount to be designated Redevelopment Agency of the City
27 of San Bernardino, Southeast Industrial Park Industrial-Transporta-
28 tion-Distribution Center, Tax Allocation Bonds, Issue of 1978
1 (the "Bonds"), to refund the previously issued Notes and for other
2 corporate purposes of the Agency.
3 NOW, THEREFORE, THE MAYOR AND THE COMMON COUNCIL OF THE
4 CITY OF SAN BERNARDINO DO HEREBY RESOLVE, DETERMINE AND ORDER AS
5 FOLLOWS:
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Section 1. Approval of Issuance of Bonds. The issuance
of tax allocation bonds not in excess of $10,000,000 principal
amount of "Redevelopment Agency of the City of San Bernardino,
Southeast Industrial Park Industrial-Transportaiion-Distribution
Center, Tax Allocation Bonds, Issue of 1978", for the corporate
purposes of the Agency aiding in the financing of the Southeast
Industrial Park Industrial-Transportation-Distribution Center
including the refunding of the previously issued and presently
outstanding Notes referred to in the recitals hereof and for other
purposes related thereto, is hereby authorized and approved.
Section 2. It is recognized that the Resolution of
Issuance of the Agency relating to this issue is not in final form,
it being understood that details may be changed by the Agency to
take advantage of market conditions and to comply with the laws and
regulations pertaining to refunding, but the maximum amount of
bonds herein approved ($10,000,000) shall not be increased without
the approval of the Mayor and Common Council.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San Bernar-
dino at a regular meeting thereof, held on the 6th day of February,
1978, by the following vote, to-wit:
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AYES:
Councilmen ,~/?R'db /.. ~4A'~~, ~~/?P7;
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NAYS:
ABSENT:
The foregoing
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resolution is hereby appr6~his ~
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to form:
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