HomeMy WebLinkAboutResolution No. 92-P111019-10
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RESOLUTION NO. 9 z -P 1
04/24192
RESOLUTION OF THE AZUSA PUBLIC FINANCING AUTHORITY
AUTHORIZING THE PURCHASE AND SALE OF NOT TO EXCEED $7,000,000
PRINCIPAL AMOUNT OF TAX ALLOCATION BONDS, 1992 SERIES A, UPON
CERTAIN TERMS AND CONDITIONS, APPROVING DISTRIBUTION OF
OFFICIAL STATEMENT RELATING THERETO AND PROVIDING OTHER
MATTERS PROPERLY RELATING THERETO
AZUSA PUBLIC FINANCING AUTHORITY
WHEREAS, the City of Azusa (the "City") and the Redevelopment Agency of the
City of Azusa (the "Agency') have entered into a Joint Exercise of Powers Agreement,
dated as of January 2, 1990 (the "Agreement'), creating the Azusa Public Financing
Authority (the "Authority');
WHEREAS, pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the
Government Code of the State of California (the "Act') and the Agreement, the Authority
is authorized to purchase bonds issued by the Agency for financing and refinancing
public capital improvements, or projects whenever there are significant public benefits,
as determined by the Agency;
WHEREAS, pursuant to the Act and the Agreement, the Authority is further
authorized to sell bonds so purchased at public or negotiated sale;
WHEREAS, the Authority desires to purchase from the Agency not to exceed
$7,000,000 aggregate principal amount of Redevelopment Agency:of the City of Azusa
Merged Project Area Tax Allocation Bonds, 1992 Series A (the "Bonds'), solely from the
proceeds received from the Authority's concurrent sale of the Bonds to Dean Witter
Reynolds, Inc. (the "Underwriter'); and
WHEREAS, the Underwriter has caused a final Official Statement relating to the
Bonds (the "final Official Statement') to be submitted to the Authority for approval for
distribution to purchasers of the Bonds;
NOW THEREFORE, BE IT RESOLVED by the Board of Directors of the Azusa
Public Financing Authority, as follows:
Section 1. The foregoing recitals are true and correct and this Authority so finds
and determines.
Section 2. The proposed form of bond purchase agreement (the "Purchase
Contract'), by and among the Agency, the Authority and the Underwriter on file with the
PASSED AND ADOPTED this 4th day of May, 1992, by the following vote:
AYES: DANGLEIS,.MADRID, NARANJO, ALEXANDER, MOSES
NOES: NONE
ABSENT: NONE
Mayor
(SEAL)
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