HomeMy WebLinkAboutResolution No. 03-C104RESOLUTION NO. 03-C10 4
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AZUSA, CALIFORNIA APPROVING THE ISSUANCE BY THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA OF ITS
AMENDED AND RESTATED MERGED CENTRAL BUSINESS
DISTRICT AND WEST END REDEVELOPMENT PROJECTS TAX
ALLOCATION REFUNDING BONDS, 2003 SERIES A
WHEREAS, the Redevelopment Agency of the City of Azusa (the "Agency") is authorized
pursuant to of Part 1 of Division 24 of the Califomia Health and Safety Code (commencing with Section
33000) (the "Act") to issue bonds for any of its corporate purposes; and
WHEREAS, pursuant to the provisions of Article 10 and 11 of Chapter 3 of Part 1 of
Division 2 of Title 5 of the Government Code of the State of Califomia (the 'Refunding Bond Law"), the
Agency may refund its outstanding bonds and indebtedness consistent with the provisions of the Refunding
Bond Law; and
WHEREAS, the Agency, in order to provide for the financing and refinancing of a portion
of the Merged Project Area, has indicated its intention to issue up to $12,000,000 aggregate principal
amount of its Amended and Restated Merged Central Business District and West End Redevelopment
Projects Area Tax Allocation Refunding Bonds, 2003 Series A, the proceeds of which will be used to
finance and refinance a portion of the Merged Project Area; and
NOW, THEREFORE, the City Council of the City of Azusa does hereby RESOLVE,
DETERMINE AND ORDER as follows:
Section 1. Approval of Financing. This City Council hereby approves the financing and
refinancing of a portion of the Merged Project Area, which constitutes a "redevelopment activity" as such
term is defined in the Act, by means of the issuance by the Agency of up to $12,000,000 principal amount
of the Agency's Amended and Restated Merged Central Business District and West End Redevelopment
Projects Tax Allocation Refunding Bonds, 2003 Series A.
Section 2. Effective Date. This Resolution shall take effect immediately upon adoption.
PASSED, APPROVED AND ADOPTED this_N�$ayl"ecember, 2003.
Mayor of the City of Azusa
ATT
City Clerk of the City of Azusa
R V PUB\KAB\661949
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF AZUSA )
1, vera Mendoza City Cleric of the City of Azusa, hereby certify that the above
and foregoing Resolution No0 3 - C 10 4 was passed and adopted at a regular meeting of said City Council
held on the I' day of December, 2003, by the following roll call vote:
AYES: COUNCIL MEMBERS: HARDISON, STANFORD, ROCHA
CHAGNON, MADRID
NOES: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: NONE
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City of Azusa
this 1 stday of Decembe> 2003.
RV661949