CC Resolution 1994-039^ F RESOLUTION NO. 94-39
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 REFUNDING
BONDS, SERIES *994 PROJECT AREA NO.1) 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 I of Division 24 commencing
with Section 33000) of the Health and Safety Code of the State of C*!*fornia), and the powers of
the Agency include the power to issue bonds or notes for an'] *f *?S corporate purposes: and
WHEREAS, the Redevelopment PIa* f' a redeve*'o*rnent project known and designated
as the La Quinta Redevelopment Project" has be*;n 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 the Redevelopment Plan
and the subsequent amendments to such Plan have been duly complied with; and
WHEREAS, the Agency desires to issue and sell its La Quinta Redevelopment Agency,
La Quinta Redevelopment Project Tax Allocation Refunding Bonds, Series 1994 Project Area
No.1) in a principal amount not to exceed Twenty-Six Million Six Hundred Sixty-Five Thousand
Dollars $26,665,000) the Bonds") to provide funds a) to refund, as determined appropriate
and desirable by the Executive Director of the Agency, the Agency's outstanding i) La Quinta
Redevelopment Project, Tax Allocation Bonds. Series 1989 and ii) La Quinta Redevelopment
Project, Tax Allocation Refunding Bonds, Series 1990. b) to fund a reserve fund and c) to pay
costs in connection with the issuance of 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. Each of the foregoing recitals is true and correct.
SECTION 2. The issuance by the Agency of the Bonds in an aggregate principal amount
of not to exceed $26.665.000 for the purpose set forth in the recitals hereof. and for other
purposes related thereto, all of which constitute a redevelopment activity" as such term is
defined in Section 33678 of the California Health and Safety Code, is hereby authorized and
approved pursuant to Section 33640 of the California Health and Safety Code.
SECTION 3. The City Manager 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.
BIB]
08-18-1998-U01
09:39:51AM-U01
ADMIN-U01
CCRES-U02
94-U02
39-U02
^ F SECTION 4* This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED AND ADOPTED this 3rd day of May 1994.
Mayor of City of La Quinta. California
SEAL)
lerk of the City 0 Quinta.
California
puBL:12663*3 1141 B2338.44
BIB]
08-18-1998-U01
09:39:51AM-U01
ADMIN-U01
CCRES-U02
94-U02
39-U02
^ F *.,,, I I* I
STATE OF CALIFORNIA CLERK'S CERTIFICATE
COUNTY*OF RIVERSIDE ss. RE ADOPTION OF RESOLUTION
CITY OF LA QUINTA
I, SANDRA JUHOLA. Clerk of the City of La Quinta. DO HEREBY CERTIFY that the
foregoing Resolution was duly adopted by the City at a regular meeting of the City held on th*
3rd day of May 1994, and that the same was passed arid adopted by the following ote:
AYES: Council Members Bangerter, McCartney, Perkins, Sniff
Mayor Pena
NOES: None
ABSENT: None
ABSTAIN: None
City Clerk of the City of La Quinta, California
puBL:i2663*3I 141 *38.44
BIB]
08-18-1998-U01
09:39:51AM-U01
ADMIN-U01
CCRES-U02
94-U02
39-U02
^ F I. I
STATE OF CALIFORNIA CLERK'S CERTIFICATE
COUNTY*OF RIVERSIDE ss. OF AUTHENTICATION
CITY OF LA QUINTA
I, SANDRA JUHOLA, 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 94-39
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 arnended or repealed
City Clerk of the City of La Quinta. California
BIB]
08-18-1998-U01
09:39:51AM-U01
ADMIN-U01
CCRES-U02
94-U02
39-U02