HomeMy WebLinkAboutResolution No. 23211019-8 JHHW:ACH:ea 11/15/85 H7107
RESOLUTION NO. 232
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
AUTHORIZING THE ISSUANCE OF $1,100,000 PRINCIPAL AMOUNT
OF REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
WEST END REDEVELOPMENT PROJECT
TAX ALLOCATION NOTES, ISSUE OF 1985, AND
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT
TAX ALLOCATION NOTES, ISSUE OF 1985
TO BE ISSUED PURSUANT TO A TRUST
INDENTURE DATED AS OF THE DATE OF THE NOTES,
AUTHORIZING THE SALE OF SUCH NOTES AND AUTHORIZING
THE EXECUTION OF AND APPROVING IMPLEMENTING
DOCUMENTS AND ACTIONS
WEST END REDEVELOPMENT PROJECT
CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT
WHEREAS, the Redevelopment Agency of the City of Azusa is a
redevelopment agency, a public body, corporate and politic, duly created,
established and authorized to transact business and exercise powers under
and pursuant to the provisions of the Community Redevelopment Law of the
State of California, including the power to issue notes for any of its
corporate purposes;
WHEREAS, a redevelopment plan for the West End Redevelopment Project
and the Central Business District Redevelopment Project, in the City of
Azusa, California, has been adopted in compliance with all requirements of
law;
WHEREAS, to aid in the financing of the West End Redevelopment Project
and the Central Business District Redevelopment Project, the Agency now
desires to provide for the issuance of a series of tax allocation notes (the
"Notes"), as more particularly herein described;
WHEREAS, the Agency's Financing Consultant, Miller & Schreoder
Financial, Inc., has caused a final Official Statement for each project,
each dated December , 1985, relating to the Notes, to be submitted to and
for approval by the Agency for distribution to the purchasers of the Notes;
and
228 and
WHEREAS, pursuant to Resolution Nos•229 , adopted December 9th 1985,
calling for bids on the Notes and approving an Official Notice of Sale
therefore, the hereinafter named purchaser has submitted the highest
responsible bid for the purchase of the Notes and it is desirable that the
Notes be awarded to the purchaser at this time only, however, on the terms
and conditions hereinafter provided;
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NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED and ORDERED, as follows:
1. The Redevelopment Agency of the City of Azusa West End Redevelopment
Project Tax Allocation Notes, Issue of 1985 in a principal amount of
$1,100,000 and the Central Business District Redevelopment Project Tax
Allocation Notes in a principal amount of $2,400,000 are hereby authorized
to be issued pursuant hereto and to a Trust Indenture dated as of the date
of the Notes, in form substantially as submitted at this meeting, which
Trust Indenture is hereby approved and authorized and directed to be
executed by the Chairman of the Agency and his signature thereto to be
attested by the Secretary who shall affix thereto the official seal of the
Agency.
2. The Notes are hereby awarded to Smith, Barney, Harris,
Upham & co. (the
"Purchaser") as the highest responsible bidder. The Notes shall be
delivered to thePurcha� upon compliance with the terms and conditions set
forth in Resolution Nos& including the Official Notice of Sale of the
Notes and the accepted proposal of the Purchaser. The Chairman and Vice
Chairman of the Agency, the Secretary of the Agency, the Executive Director
of the Agency, the General Counsel and other proper Officers of the Agency
are hereby authorized and directed to deliver any and all documents and
instruments, to authorize the payment of Costs of Issuance (as defined and
provided in the Trust Indenture) and to do and cause to be done any and all
acts and things necessary or convenient for delivery of the Notes to the
Purchaser.
3. The final Official Statement for each project is hereby approved
and the Chairman of the Agency shall cause the execution of the final
Official Statement relating to the Notes, setting forth such amendments and
supplements thereto, as shall be necessary or convenient to accurately
describe the Notes in accordance with this Resolution, the respective Trust
Indentures, the accepted proposal of the Purchaser of the Notes and the
other related agreements and documents.
4. This resolution shall take effect from and after its adoption.
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PASSED, APPROVED and ADOPTED THIS 16th day of December, 1985
AYES, Members: CRUZ, COOK, CAMARENA, LATTA, MOSES
NOES, Members: NONE
ABSENT, Members: NONE
(SEAL)
Attest:
Secretary
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
by: t�-44 1,ez Y- Q.
Chairman
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