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CC Resolution 1991-0652 ^ ? RESOLUTION NO. 91-65 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 1991 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" 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 approved in substantial form its Resolution entitled: SUPPLEMENT TO RESOLUTION NO. RA 91-10 OF THE LA QUINTA REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE OF TAX ALLOCATION BONDS OF SAID AGENCY IN A PRINCIPAL AMOUNT OF EIGHT MILLION SEVEN HUNDRED DOLLARS $8,700,000) TO FINANCE A PORTION OF THE COST OF A REDEVELOPMENT PROJECT KNOWN AS THE LA QUINTA REDEVELOPMENT PROJECT; and BIB] 07-30-1998-U01 03:32:07PM-U01 ADMIN-U01 CCRES-U02 91-U02 65-U02 2 ^ ? 1 WHEREAS, under and pursuant to the above Resolution, the Agency will authorize the issuance and sale of $ 8,700,000 principal amount of its La Quinta Redevelopment Agency, La Quinta Redevelopment Project, Tax Allocation Bonds, Series 1991" 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 $_8,700,OOOof 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. 09/04/91 7154u/2338/14 2- BIB] 07-30-1998-U01 03:32:07PM-U01 ADMIN-U01 CCRES-U02 91-U02 65-U02 2 ^ ? U PASSED, APPROVED AND ADOPTED this 9th day of Septernber, 1991. SEAL) La Quinta, California 09/04/91 7154u/2338114 3- BIB] 07-30-1998-U01 03:32:07PM-U01 ADMIN-U01 CCRES-U02 91-U02 65-U02 2 ^ ? ii STATE OF CALIFORNIA CLERK*S CERTIFICATE COUNTY OF RIVERSIDE ss. 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 was duly adopted by the City at an adjourned regular meeting of the City held on the 9th day of September, 1991, and that the same was passed and adopted by the following vote: AYES: Council Members Franklin, Rushworth & Mayor Pena NOES: None ABSENT: Council Member Bohnenberger ABSTAIN: Council Member Sniff the Ci*of La Quinta SEAL) 09/04/91 7154u12338/14 4- BIB] 07-30-1998-U01 03:32:07PM-U01 ADMIN-U01 CCRES-U02 91-U02 65-U02 2 ^ ? II 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. 91-65 of *he 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: Septernbe;: 9, 1991 SEAL) 09104/91 7154u/2338/14 5- BIB] 07-30-1998-U01 03:32:07PM-U01 ADMIN-U01 CCRES-U02 91-U02 65-U02