HomeMy WebLinkAboutResolution No. 75512469H
• • ,AUG 17 1984
JHHW:ACH:ea 08/16/84
RESOLUTION NO. 7551
A RESOLUTION OF THE CITY COUNCIL APPROVING THE ISSUANCE BY
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
OF RESIDENTIAL MORTGAGE REVENUE BONDS, 1984 SERIES A,
IN THE PRINCIPAL AMOUNT OF $20,000,000
RESOLVED, by the City Council of the City of Azusa, Los Angeles County,
California, as follows:
WHEREAS, the Redevelopment Agency of the City of Azusa has undertaken
and is carrying out a redevelopment program in the City of Azusa in accordance
with the provisions of the California Community Redevelopment Law;
WHEREAS, by the enactment of Chapter 8 (commencing with Section 33750)
of Part 1 of Division 24 of the Health and Safety Code of the State of
California, the legislature of the State has authorized redevelopment agencies
to issue revenue bonds for the purpose of financing residential construction
within redevelopment project areas;
WHEREAS, the Redevelopment Agency of the City of Azusa has determined to
implement a residential construction financing program to provide for the
issuance of Residential Mortgage Revenue Bonds of the Redevelopment Agency of
the City of Azusa, the proceeds of which are to be used to carry out such
program;
WHEREAS, to that end, the Agency did by Resolution No. 147, adopted
August 13, 1984, authorize the issuance of $20,000,000 principal amount of
Residential Mortgage Revenue Bonds, 1984 Series A; and
WHEREAS, Section 33640 of the Health and Safety Code requires the Agency
to obtain the approval of the City Council of the City of Azusa, prior to
issuance of the Bonds authorized pursuant to the foregoing described Indenture;
NOW, THEREFORE, IT IS HEREBY ORDERED by the City Council of the City of
Azusa that the Redevelopment Agency of the City of Azusa is hereby given
approval to issue, sell and deliver said Residential Mortgage Revenue Bonds,
1984 Series A, in a principal amount of $20,000,000.
P • •
I hereby certify that the foregoing is a full, true and correct copy of
a resolution duly passed and adopted and a regular meeting of the City Council
of the City of Azusa held odn the 20th day of August, 1984, by the following
vote:
AYES: Council Members
NOES: Council Members
ABSENT: Council Members
ATTEST:
z;��f Z;",/ /-,,/ 1
City Clerk
Cruz, Cook, Camarena, Latta, Moses
None
None
CITY OF AZUSA
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