HomeMy WebLinkAboutResolution No. 86241 0 • 0
RESOLUTION NO. 8624
A RESOLUTION OF THE CITY OF AZUSA APPROVING
THAT CERTAIN AGREEMENT ENTITLED "AN AGREEMENT
FOR ALLOCATION OF TAX INCREMENT FUNDS" BETWEEN
THE THE CITY OF AZUSA, THE REDEVELOPMENT
AGENCY OF THE CITY OF AZUSA, AND THE COUNTY OF
LOS ANGELES
WHEREAS, the City of Azusa (the "City") has initiated the
formation of the Ranch Center Redevelopment Project Area in
compliance with the California Community Redevelopment Law
[Health and Safety Code, Sections 33000, gt seg. (the "Code"));
and
WHEREAS, the City has consulted with representatives of the
County on behalf of the County General Fund, the Flood Control
District, the Public Library (hereinafter referred to as "County
Taxing Entities") pursuant to Health and Safety Code 33328 to
determine the fiscal impact of the Ranch Center Project Area
formation; and
WHEREAS, the County intends that this Agreement, in
substantially the form attached, shall serve as a solution to
their concerns regarding possible fiscal impact and agrees to
forebear any judicial remedies they may have to challenge the
validity of the project area formation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF AZUSA
AS FOLLOWS:
SECTION 1. The City approves and adopts that certain
Agreement entitled "An Agreement for Allocation of Tax Increment
Funds", dated May 15, 1989, and authorizes the Mayor to execute
said Agreement on behalf of the City in substantially the form
attached hereto.
SECTION 2. The City Clerk shall certify as to the
passage and adoption of this resolution, and it shall thereupon
take effect and be in force.
PASSED AND ADOPTED this 15th day of May , 1989.
Aaz4l -
EugerjerF. Moses, Mayor
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the City Council of the City of Azusa, at a regular
meeting thereof held on the 15th day of May , 1989.
AYES: COUNCILMEMBERS: AVILA, STEMRICH, NARANJO, LATTA, MOSES
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
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