CC Resolution 1988-136^ 7 38*
RESOLUTION NO. 88-l36
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 1988 AND MAKING CERTAIN
DETERMINATIONS RELATING THERETO
WHEREAS, the La Quinta Redevelopment Agency the
c\j Agency"), is a redevelopment agency duly created, established
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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" 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
WHEREAS, the Agency has adopted its Resolution
entitled:
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
LA QUINTA REDEVELOPMENT AGENCY AUTHORIZING THE
ISSUANCE OF TAX ALLOCATION REFUNDING BONDS OF SAID
AGENCY IN A PRINCIPAL AMOUNT NOT TO EXCEED EIGHT
MILLION DOLLARS $8,000,000) TO FINANCE A PORTION
OF THE COST OF A REDEVELOPMENT PROJECT KNOWN AS THE
LA QUINTA REDEVELOPMENT PROJECT, AND APPROVING
CERTAIN DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS
IN CONNECTION THEREWITH
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^ 7388
and
WHEREAS, under and pursuant to the above Resolution,
the Agency has authorized the issuance and sale of $8,000,000
principal amount of its La Quinta Redevelopment Agency,
La Quinta Redevelopment Project, Tax Allocation Bonds1 Series
1988" 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 $8,000,000 of
Bonds 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.
Section 2. Authorization of Officers. The 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
necessary to assist the Agency in the issuance of the Bonds.
Section 3. Effective Date. This Resolution shall
take effect upon adoption.
12/02/88
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^ 7 RESOLUTION NO. 88-136
385
PASSED, APPROVED AND ADOPTED this *hday f December,
1988.
c\j lerk of the of
ID La Quinta, California
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a:)
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STATE OF CALIFORNIA CLERK*S CERTIFICATE
COUNTY OF RIVERSIDE ss. RE ADOPTION OF RESOLUTION
CITY OF LA QUINTA
I, SAUNDRA JUHOLA, Clerk of the City of La Quinta, DO
HEREBY CERTIFY that the foregoing Resolution was duly adopted
by the City at an adjourned regular meeting of the City held on
the 20th day of December, 1988, and that the same was passed
and adopted by the following vote:
AYES: Council Members Bohnenberger, Bosworth, Rushworth,
Sniff, Mayor Pena
NOES: None
ABSENT: None
ABSTAIN: None
Clerk of the City of La Quinta
SEAL)
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^ 7 383
STATE OF CALIFORNIA CLERK*S CERTIFICATE
COUNTY OF RIVERSIDE ss. OF AUTHENTICATION
CITY OF LA QUINTA
I, SAUNDRA JUHOLA, 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. 88-136 of the City and that
the Resolution was adopted at the time and by the vote stated
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o on the above certificate, and has not been amended or repealed.
Dated: December2L, 1988
Clerk of the City of La Quinta
SEAL)
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