CC Resolution 1995-043^#H RESOLUTION NO.9543
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CALIFORNIA, APPROVING THE ISSUANCE BY THE
LA QUINTA REDEVELOPMENT AGENCY OF ITS
REDEVELOPMENT PROJECT AREAS NO.1 AND 2, 1995 HOUSING
TAX ALLOCATION BONDS AND MAKING CERTAIN
DETERMINATIONS RELATING THERETO
WHEREAS, the La Ouinta 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 commencmg
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 or notes for any of its corporate purposes; and
WHEREAS, the Redevelopment Plan for a redevelopment project known and designated
as the La Ouinta 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 the Redevelopment Plan
and the subsequent amendments to such Plan have been duly complied with; and
WHEREAS, the Redevelopment Plan for a redevelopment project known and designated
as the La Ouinta Redevelopment Project Area No.2" the Project Area No.2 Redevelopment
Plan") has been adopted and approved by Ordinance No.139 of the City of La Ouinta on May
16, 1989, which became effective on June 15, 1989 and all requirements of the Law for and
precedent to the adoption and approval of the Project Area No.2 Redevelopment Plan, as
amended, have been duly complied with; and
WHEREAS, the Agency desires to issue and sell its La Quinta Redevelopment Agency,
Redevelopment Project Areas No.1 and 2, 1995 Housing Tax Allocation Bonds, in a principal
amount not to exceed Twenty-Eight Million Dollars $28,000,000) the Bonds") to provide
funds a) to finance certain low- and moderate-income housing, *) to pay costs in connection
with the issuance of the Bonds; and c) to make certain other deposits as required by the
Indenture providing for the issuance of the Bonds; and
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, AS FOLLOWS:
SE*ON 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 $28,000,000 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
fined in Section 33678 of the California Health and Safety Code, is hereby authorized and
de pursuant to Section 33640 of the California Health and Safety Code.
BIB]
08-19-1998-U01
02:43:58PM-U01
ADMIN-U01
CCRES-U02
95-U02
43-U02
^#H I *. I U,
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.
SECTION 4. This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED AND ADOPTED this 20th day of June, 1995.
Mayor of e City Quinta, California
SEAL)
*ST
of the
California
punL:25722*1 i4*1233349 2
BIB]
08-19-1998-U01
02:43:58PM-U01
ADMIN-U01
CCRES-U02
95-U02
43-U02
^#H j *
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 a regular meeting of the City held on
the 20th day of June, 1995, and that the same was passed and adopted by the following vote:
AYES: Council Meu**ers Banqerter, Cathcart, Perkins, Sniff,
Mayor Pena
NOES: None
ABSENT: None
ABSTAIN: None
ty Clerk of the City of La Quinta, California
F
PuBL:25722*1 I 14112338.49 3
BIB]
08-19-1998-U01
02:43:58PM-U01
ADMIN-U01
CCRES-U02
95-U02
43-U02
^#HSTATh OF CALIFORNIA CLERK'S CERTIFICATh
COUNTY OF RIVERSDE ss. OF AUTHENTICATION
CITY OF LA QUINTA
I, SAUNDRA JUHOLA, Clerk of the City of La Ouinta,California, DO HEREBY
CERTIFY that the above and foregoing is a ftill, true and correct copy of Resolution No.9543
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 ded or repealed.
Dated: $*/, 1995
/cl Cl&k of the City 0 La Quinta, California
puuL:25722*1I14IB233S.49 4
BIB]
08-19-1998-U01
02:43:58PM-U01
ADMIN-U01
CCRES-U02
95-U02
43-U02