CC Resolution 1985-065B
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RESOLUTION NO. 85-65
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 TAX ALLOCATION BONDS, SERIES 1985,
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
Redevelopment Plan for the La Quinta Redevelopment Project'*
has been adopted and approved by Ordinance No. 43 of the City
of La Quinta the *City"), which became effective on December
29, 1983, and all requirements of law for and precedent to the
adoption and approval of said Redevelopment Plan have been duly
complied with, and
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WHEREAS, the Agency intends to issue bonds to pay a
portion of the costs of implementing the Redevelopment Plan and
has adopted its Resolution entitled:
RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY AUTHORIZING THE ISSUANCE OF TAX
ALLOCATION BONDS OF SAID AGENCY IN A
PRINCIPAL AMOUNT NOT TO EXCEED TWENTY
MILLION DOLLARS $20,000,000) TO FINANCE
PORTION OF THE COST OF A REDEVELOPMENT
PROJECT KNOWN AS THE LA QUINTA REDEVELOPMENT
PROJECT
and
WHEREAS, under and pursuant to the above Resolution,
the Agency has authorized the issuance and sale of up to
$20,000,000 La Quinta Redevelopment Agency, La Quinta
Redevelopment Project Tax Allocation Bonds, Series 1985 the
*Bonds'*).
NOW THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, AS
FOLLOWS:
Section 1. Approval of Issuance of Bonds. The
issuance of a principal amount not in excess of $20,000,000 of
01La Quinta Redevelopment Agency, La Quinta Redevelopment
Project Tax Allocation Bonds, Series 1985", in order to aid in
the financing of the La Quinta Redevelopment Project, 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.
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Section 3. Effective Date. This Resolution shall
take effect upon adoption.
PASSED, APPROVED AND ADOPTED this 30th day of July,
1985 by the following vote:
Council Members
AYES: Allen, Bohnenberger, Pena, Wolff and Mayor Cox.
NOES: None.
ABSENT: None.
SEAL)
ATTEST:
m>*W>*
City Clerk of the City of
La Quinta, California
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STATE OF CALIFORNIA CITY CLERK'S CERTIFICATE
COUNTY OF RIVERSIDE ss. RE ADOPTION OF RESOLUTION
CITY OF LA QUINTA
I, Frank M. Usher City Clerk of the City of
La Quinta, California, DO HEREBY CERTIFY that the foregoing
Resolution was duly adopted by the City Council of said City at
an adjourned regular meeting of said City Council held on the
30th day of July, 1985 and that the same was passed and adopted
by the following vote to wit:
AYES: Council members Allen, Bohnenberger, Pena,
Wolff and Mayor Cox.
NOES: Council members None.
ABSENT: Council members None.
ABSTAIN: Council members None.
City Clerk of the City of
La Quinta, California
SEAL)
STATE OF CALIFORNIA CITY CLERK'S CERTIFICATE
COUNTY OF RIVERSIDE ss. OF AUTHENTICATION
CITY OF LA QUINTA
I, Frank M. Usher City Clerk of the City of
La Quinta, California, DO HEREBY CERTIFY that the above and
foregoing is a full, true and correct copy of Resolution
No. 85-65 of the City Council of said City and that said
Resolution was adopted at the time and by the vote stated on
the above certificate, and has not been amended or repealed.
City Clerk of the City of
La Quinta, California
SEAL)
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