CC Resolution 2011-022RESOLUTION NO. 2011 - 022
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CALIFORNIA, APPROVING THE ISSUANCE
BY THE LA QUINTA REDEVELOPMENT AGENCY OF ITS
LA QUINTA REDEVELOPMENT PROJECT AREA NO. 2,
TAXABLE TAX ALLOCATION BONDS, SERIES 2011 AND
MAKING CERTAIN DETERMINATIONS RELATING
THERETO.
WHEREAS, the La Quinta Redevelopment Agency (the "Agency "), is a
redevelopment agency duly created, established and authorized to transact
business and exercise its powers, all under and pursuant to the Community
Redevelopment Law,-(Part 1 of Division,24 (commencing with Section 33000) of
the Health and Safety Code of the State of California) and the powers of the
Agency include the power to issue bonds for any of its corporate purposes; and
WHEREAS, a Redevelopment Plan known as the "La Quinta Redevelopment
Agency, La Quinta Redevelopment Project Area No. 2" has been adopted and
approved by Ordinance No. 139 of the City of La Quinta (the "City "), which
became effective on June 16, 1989 and all requirements of law for and precedent
to the adoption and approval of said Redevelopment Plan have been duly complied
with; and
WHEREAS, the Agency has approved in substantial form its Resolution
entitled:
RESOLUTION OF THE BOARD OF DIRECTORS OF THE LA QUINTA
REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE OF
TAXABLE TAX ALLOCATION BONDS OF SAID AGENCY IN A
PRINCIPAL AMOUNT OF NOT TO EXCEED SIX MILLION DOLLARS
($6,000,000) TO FINANCE A PORTION OF THE COSTS OF A
REDEVELOPMENT PROJECT KNOWN AS THE LA QUINTA
REDEVELOPMENT PROJECT AREA N0. 2 AND APPROVING CERTAIN
DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN
CONNECTION THEREWITH.
WHEREAS, under and pursuant to the above Resolution, the Agency will
authorize the issuance and sale of not to exceed $6,000,000 principal amount of
its "La Quinta Redevelopment Agency, La Quinta Redevelopment Project Area No.
2, Taxable Tax Allocation Bonds, Series 2011 " (the "Bonds ").
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, AS FOLLOWS:
124/015610 -0122
1 158685.02 AM 5111
Resolution No. 2011 -022
City Approval of the Issuance by the RDA
of its RDA Project Area 2 Taxable Tax Allocation Bonds
Adopted: March 15, 2011
Page 2
Approval of Issuance of Bonds The issuance of a principal amount not to exceed
$6,000,000 of Bonds in order to aid in the financing of the La Quinta
Redevelopment Project Area No. 2 and for other purposes related thereto, all of
which constitute a "redevelopment activity," as such term is defined in Health and
Safety Code Section 33678, is hereby authorized and approved pursuant to Health
and Safety Code Section 33640.
Authorization of Officers The City Manager and Finance Director of the City and
the other officers and members of staff having responsibility for the affairs of the
Agency are hereby authorized to execute such documents and certificates
determined by Bond Counsel as necessary to assist the Agency in the issuance of
the Bonds.
Effective Date This Resolution shall take effect upon adoption.
PASSED, APPROVED and ADOPTED this 15th day of March, 2011, by the
following vote:
AYES: Council Members Evans, Franklin, Henderson, Mayor Adolph
NOES: Council Member Sniff
ABSENT: None
ABSTAIN: None
Don Adolph,VMayor
City of La Quinta, California
I_1
VERONICA J.,AONTECINO, CMC, City Clerk
City of La Q1iinta, California
(City Seal)
124/015610-0122
1158685.02 a03115/11
Resolution No. 2011 -022
City Approval of the Issuance by the RDA
of its RDA Project Area 2 Taxable Tax Allocation Bonds
Adopted: March 15, 2011
Page 3
APPROVED AS TO FORM:
M. KA IN JENSON, CI Attorney
City of Quinta, Cal' orn'
CLERK'S CERTIFICATE
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE ►ss.
CITY OF LA QUINTA )
I, VERONICA J. MONTECINO, City Clerk of the City of La Quinta DO
HEREBY CERTIFY that the foregoing Resolution was duly adopted by said City
Council at a regular meeting of said City Council on the 15th day of March, 2011.
AYES: Council Members Evans, Franklin, Henderson, Mayor Adolph
NOES: Council Member Sniff
ABSENT: None
ABSTAIN: None
VERONICA J City
City of La Quinta, California
24/015610-0122
1158685 02 a03/15/11
Resolution No. 2011 -022
City Approval of the Issuance by the RDA
of its RDA Project Area 2 Taxable Tax Allocation Bonds
Adopted: March 15, 2011
Page 4
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE Iss.
CITY OF LA QUINTA )
I, VERONICA J. MONTECINO, City Clerk of the City of La Quinta DO
HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
Resolution No. 2011-022 of the City and that the Resolution was adopted at the
time and by the vote stated on the above certificate, and has not been amended or
repealed.
DATED: 3 Z 2011
VERONICAONTECINO, City
City of La ffuinta, California
124/015610 -0122
1158685 02.03/15/11