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HomeMy WebLinkAbout13143 1 RESOLUTION NO. /3/ ~ 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 STATE COLLEGE PROJECT NO.4, TAX ALLOCATION BONDS, ISSUE OF 1978, SERIES 4 A, 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 12 Agency include the power to issue bonds for any of its corporate 13 purposes; and 14 WHEREAS, a Redevelopment Plan for a redevelopment project 15 known as the "State College Project No.4" has been adopted and 16 approved by Ordinance No. 3067 of the City of San Bernardino 17 ("City"), which became effective on May 29, 1970, and all require- 18 ments of law for and precedent to the adoption and approval of 19 said Redevelopment Plan have been duly complied with; and 20 WHEREAS, under and pursuant to Resolution No. ~~-07~ ' 21 the Agency has authorized the issuance of $6,000,000 Redevelopment 22 Agency of the City of San Bernardino, State College Project No.4, 23 Tax Allocation Bonds, Issue of 1978 (the "Bonds). Under and 24 pursuant to (1) Resolution No. "Ji~./d...3, the Agency determines to 25 issue at this time $2,800,000 of the $6,000,000 authorized pursuant 26 to Resolution No. :JSC2~ ; and (2) Resolution No. SS-,:).y, the 27 Agency authorized the sale of said $2,800,000 principal amount of 28 tax allocation bonds; and 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 .- J WHEREAS, the sale of the $2,800,000 principal amount of tax allocation bonds is undertaken for the purpose of paying the outstanding "State College Project No. 4 Notes, Issue of 1975" at the maturity thereof and for other corporate purposes of the Agency. NOW, THEREFORE, THE MAYOR AND THE COMMON COUNCIL OF THE CITY OF SAN BERNARDINO DO HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: Section 1. Approval of Issuance of Bonds. The issuance of $6,000,000 principal amount of "Redevelopment Agency of the City of San Bernardino, State COllege Project No.4, Tax Allocation Bonds, Issue of 1978, Series A", and the sale of $2,800,000 principal amount of said bonds authorized for issuance by the Agenc , for the corporate purposes of the Agency aiding in the financing of the State COllege Project No.4, for paying of the outstanding "State College Pro~ect No. 4 Notes, Issue of 1975" at their maturity and for other corporate purposes of the Agency, is hereby authorized and approved subject to Section 33644 of the Health and Safety Code. Section 2. It is recognized that the Resolutions of the Agency referred to in the recitals hereof are not necessarily .final, it being understood that details may be changed by the Agency to take advantage of market conditions, but the maximum amount of bonds herein approved ($2,800,000) shall not be increased without the approval of the Mayor and Common Council. Section 3. The Agency is urged to proceed with the above approved issuance and sale as expeditiously as possible. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 I HEREBY CERTIFY that the foregoing resolution was duly adopted by the Mayor and Common Council of the City of San Ber- nardino at a regular meeting thereof, held on the 6th day of February, 1978, by the following vote, to-wit: AYES: Councilmen: ~Y~47/M/y ~//~ ~/W-: " ~/,,~, ,A~>,>>? ,~/'-?77/-f ~~ NAYS: The foregoing fl/.nb?"..,i" L:::A//.I7A-~/.2?0~U)/ - o-.;:;::z;a<~;:::;,~:o ;O'/.- c:;:f _?M,;Y :~ ,- -" ~~~; 6;:-"'A"?~ CJ.ty C erk resolution is hereby approved this ~~ ABSENT: ~A-7/ day of ?-tf~M-?Y , 1978. San Bernardino Approved as to form: 21 22 23 24 25 26 27 28