HomeMy WebLinkAboutResolution No. 05-C005RESOLUTION NO. Q5-05
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA, CALIFORNIA,
APPROVING THE FINANCING OF AMENDED AND RESTATED MERGED
CENTRAL BUSINESS DISTRICT AND WEST END REDEVELOPMENT PROJECT
AREA BY THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AND
OTHER MATTERS RELATING THERETO
WHEREAS, the Redevelopment Agency of the City of Azusa (the "Agency") is
authorized pursuant to Part 1 of Division 24 of the California Health and Safety Code (the "Act')
to issue bonds for any of its corporate purposes; and
WHEREAS, the Agency, in connection with its Amended and Restated Merged
Central Business District and West End Redevelopment Project Area (the "Project'), has
indicated its intention to issue bonds in an aggregate principal amount issue not to exceed
$10,000,000 (the "Bonds"), the proceeds of which will be used to finance the Project; and
WHEREAS, Section 33640 of the Act requires the Agency to obtain the approval
of the City Council of the City of Azusa prior to issuance of the Bonds; and
WHEREAS, the City Council approves of the issuance of the Bonds as being in
the public interests of the City of Azusa and of the Agency.
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 of a portion of the Project by means of the issuance of the Bonds in an amount not to
exceed $10,000,000 pursuant to provisions of the Act, all subject to the requirements of the Act
to finance a portion of the Project.
Section 2. Effective Date. This Resolution shall take effect immediately upon
adoption.
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AYES: COUNCIL MEMBERS
NOES: COUNCIL MEMBERS
ABSTAIN: COUNCIL MEMBERS
ABSENT: COUNCIL MEMBERS
ADOPTED this 7`h day of February, 2005.
HARDISON, STANFORD, ROCHA, CHAGNON, MADRID
NONE
NONE
NONE
Mendoza, City Clerk
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STATE OF CALIFORNIA )
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COUNTY OF LOS ANGELES )
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I, Vera Mendoza, City Clerk of the City of Azusa, DO HEREBY CERTIFY that the
above and foregoing is true, correct and complete copy of Resolution No. 05-05 adopted by the
City Council of the City of Azusa on February 7, 2005, that the same has not been amended,
modified or rescinded and is fully effective as of this date.
Dated: February 22, 2005
Vera Mendoza,
City Clerk