1985 08 27 RDA^= I
AGENDA
LA QIJINTA REDEVEWPME**T AGB*
A special rr*eting of *e La Quinta
Redevelo*irent Agency to be held at
City Hall, 78-105 Calle Estado,
La Quinta, California.
August 27, 1985 8:00 a.m.
1. CAIi To ORDER
2. BOIL C*TT.
3. HE**GS
4. CONSENT CAL***
5. BUSINESS SESSICN
Report fr* the *ecutive Director regarding flood control bonds aix] approval
of the official stat*r*nt.
1) Resolution for adoption.
2) Resolution for adoption.
6. ABJOU**NME**T
FU/lw
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^= I J:
MEMORANDUM
CITY OF LA QUINTA
To: Honorable Council and *rt**rs of the Redevelopment Agency
From: Frank Usher, Executive Director
Date: August 23, 1985
Subject: Flood Control Bonds and Approval of the Official Statement
The first ac*panying resolution air*nds the previously adopted resolution
authorizing issuance of tax allocation bonds. This resolution provides for the
establishn*nt of the debt service special fund which is related to the agree-
rrent previously approved with the Coachella Valley Water District for the
continued use of those funds which are due to the District for the engineering
and planning services. With this action, the debt service special fund is estab-
lished until such tbr* as tax increment revenues are equal to 125 percent of
maximum annual debt service and the debt service reserve fund is fully funded.
The second resolution approves the official statement regarding the subject
bonds. The draft of the official statement is attached for your information.
Approval of the acca***ying resolutions is respectfully r*cended.
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