CC Resolution 1990-022#<3 RESOLUTION NO. 90-22
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CALIFORNIA1 APPROVING THE ISSUANCE BY
THE LA QUINTA REDEVELOPMENT AGENCY OF ITS LA
QUINTA REDEVELOPMENT PROJECT, TAX ALLOCATION
REFUNDING BONDS, SERIES 1990 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 and refunding 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, on September 23, 19B5, the Agency issued
$20,000,000 La Quinta Redevelopment Agency, La Quinta
Redevelopment Project, Tax Allocation Bonds, Series 1985 to pay
a portion of the costs of said Redevelopment Plan; and
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#<3 WHEREAS, on March 14, 1990 the Agency adopted its
Resolution entitled:
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
LA QUINTA REDEVELOPMENT AGENCY AUTHORIZING THE
ISSUANCE OF TAX ALLOCATION REFUNDING BONDS, SERIES
1990 OF SAID AGENCY IN A PRINCIPAL AMOUNT NOT TO
EXCEED NINETEEN MILLION SEVEN HUNDRED AND
FIFTY-FIVE THOUSAND DOLLARS $19,755,000),
APPROVING A PRELIMINARY OFFICIAL STATEMENT AND A
BOND PURCHASE CONTRACT WITH PAINEWEBBER INCORPORATED
and
WHEREAS, under and pursuant to the above Resolution,
the Agency has authorized the issuance and sale of not to
exceed $19,755,000 principal amount of its La Quinta
Redevelopment Agency, La Quinta Redevelopment Project, Tax
Allocation Refunding Bonds, Series 1990" 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 $19,755,000 of
Bonds in order to aid in the financing of the La Quinta
Redevelopment Project by the refunding of its Tax Allocation
Bonds, Series 1985 constitutes a redevelopment activity", as
such term is defined in Health and Safety Code Section 33678,
and 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
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#<3 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.
PASSED, APPROVED AND ADOPTED this 14th daY of March
1990.
Mayor e Cit* 0 La Quinta,
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ATT4ST:
of the
La Quinta, California
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#<3STATE OF CALIFORNIA CLERK'S CERTIFICATE
COUNTY OF RIVERSIDE S5* RE ADOPTION OF RESOLUTION
CITY OF LA QUINTA
I, SAUNDRA L. JUHOLA, Clerk of the City of La Quinta,
Do HEREBY CERTIFY that the foregoing Resolution wa8 duly
adopted by the City at an adjourned regular meeting of the City
held on the 14th day of March, 1990, and that the same was
passed and adopted by the following vote:
AYES: COUNCILMAN BOHNENBERGER, RUSHWORTH, SNIFF & MAYOR PENA
NOES: NONE
ABSENT: COUNCILWOMAN BOSWORTH
ABSTAIN: NONE
of the Cit
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#<3 STATE OF CALIFORNIA CLERK*S CERTIFICATE
COUNTY OF RIVERSIDE ss. OF AUTHENTICATION
CITY OF LA QUINTA
I, SAUNDRA L. 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. 22 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: March 14, 1990
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