HomeMy WebLinkAboutResolution No. 7631o
CITY COUNCIL OF THE
CITY OF Azusa
RESOLUTION NO. 7631
RESOLUTION TRANSFERRING A PORTION OF
THE PRIVATE ACTIVITY BOND ALLOCATION
OF THE CITY OF Azusa
WHEREAS, pursuant to the Tax Reform Act of 1984
(Public Law 98-369) and the Governor's Proclamation of
July 19, 1964 implementing said Act, the City of Azusa
(the "City") has received a private activity bond allocation
in the amount of $ 1,703,000 for the calendar year 1984; and
WHEREAS, it is not expected that the City will
utilize the full amount of such allocation for the issuance
of private activity bonds during 1984; and
WHEREAS, the Proclamation permits the City to
transfer to the State of California or any other local agency
all or any portion of its private activity bond allocation in
any calendar year; and
WHEREAS, the City wishes to cooperate with the
State and other local governments which may need allocation
in 1984; and
WHEREAS, the City understands that the State acting
through its Debt Limit Allocation Committee is willing to act
as a clearinghouse to assist in the most efficient
utilization of allocations in 1984.
I
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Azusa as follows:
1. The City of Azusa hereby transfers to the
,State of California the aggregate amount of $ Azusa of
the City's unused private activity bond allocation for 1984
under the Act and the Governor's Proclamation. Such
allocation may be transferred by the California Debt Limit
Allocation Committee to any other state agency or local
agency as such Committee may deem appropriate, and may be
used by any such transferee for a carryforward election.
2. The City Clerk is hereby directed to
immediately transmit a certified copy of this resolution to
the California Debt Limit Allocation Committee.
3. This resolution shall take effect immediately
upon its passage.
Passed, adopted and approved this 17th day
of December, 1984.
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CLERK'S CERTIFICATE
I, the undersigned, the Clerk of the City Council
of the City of Azusa , hereby certify that the foregoing
is a full, true and correct copy of a resolution duly
introduced and adopted at a regular/special meeting of the
City Council of said City duly and regularly held on the 17th
day of December, 1984, of which meeting all of the members of
said City Council had due notice and at which a majority
thereof were present; and that said resolution was adopted by
the following vote:
AYES: CRUZ, COOK, CAMARENA, LATTA, MOSES
NOES: NONE
ABSENT: NONE
I further certify that I have carefully compared
the same with the original minutes of said meeting on file
and of record in my office; that said resolution is a full,
true and correct copy of the original resolution so adopted
and entered in said minutes; and that said resolution has not
been amended, modified or rescinded since the date of its
adoption and is now in full force and effect.
IN WITNESS WHEREOF, I have hereunto
affixed the official seal of tea city of Azusa
day of December, 1984-
[ SEAL I
984.
[SEAL]
set my hand and
this 18th