CC Resolution 1998-027^"R RESOLUTION NO. *
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, TAX ALLOCATION REFUNDING BONDS,
ISSUE OF 1998 AND MAKING CERTAIN DETERMINATIONS RELATING
THERETO
WHEREAS, the La Quinta Redevelopment Agency the 1Agency"), 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 ItLa 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 City11), which became effective on June 15, 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 adopted its Resolution entitled:
RESOLUTION NO. RA-98
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 OF 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 AREA NO. 2 AND APPROVING CERTAIN
DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH
WHEREAS, under and pursuant to the above Resolution, the
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^"RAgency will authorize the issuance and sale of not to exceed
$8,000,000 principal amount of its La Quinta Redevelopment Agency
La Quintal Redevelopment Project Area No. 2, Tax Allocation
Refunding Bonds, Issue 1998" the Bonds");
NOW, THEREFORE, BE IT RESOLVED, DETER*INED AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, As FOLLOWS:
Section 1. AD*roval 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 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.
Section 2. 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
necessary to assist the Agency in the issuance of the Bonds.
Section 3. Effective Date. This Resolution shall take
effect upon adoption.
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^"R PASSED, APPROVED and ADOPTED this 7th day of April, 1998 by
the following vote:
AYES: Council Members Adolph, Henderson, Perkins, Sniff,
Mayor Pena
*OES: None
ABSENT: None
ABSTAIN: None
JOHiPENi Mayor
City of La Quinta, California
ATTE
UNDRA L. JUHO City Clerk
City of La Quinta, California
APPROVED AS TO FORM
DAWN C. HONEYWELL, City Attorney
City of La Quinta, California
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^"RSTATE OF CALIFORNIA CL*RK's CERTIFICATE
COUNTY OF RIVERSIDE SB. OF AUTHENTICATION
CITY OF LA QUINTA
I, *AUNDRA L. JUHOLA, Clerk of the City Of La Quinta, DO
HEREBY CERTIFY *hat the above and foregoing is a full, true and
correct copy of Resolution NQ. 98-27 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: April 7* 1998
Clerk of the City of La Quinta
SEAL)
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