CC Resolution 1998-026^"R RESOLUTION NO. 9R-26
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. 1,
TAX ALLOCATION REFUNDING BONDS, SERIES 1998
AND M*ING 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:
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
124lO1615*OO'2*3149956.1 a03130/98 1
BIB]
09-15-1998-U01
04:57:23PM-U01
ADMIN-U01
CCRES-U02
98-U02
26-U02
^"R NOT TO EXCEED SIXTEEN MILLION DOLLARS
$16,000,000) TO FINANCE A PORTION OF THE
COST OF A REDEVELOPMENT PROJECT KNOWN AS THE
LA QUINTA REDEVELOPMENT PROJECT AREA NO. 1
AND APPROVING CERTAIN DOCUMENTS AND TAKING
CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH.
WHEREAS, under and pursuant to the above Resolution, the
Agency will authorize the issuance and sale of not to exceed
$16,000,000 principal amount of its 1La Quinta Redevelopment
Agency, La Quinta Redevelopment Project Area No. 1, Tax
Allocation Refunding Bonds, Series 1998" the 11Bonds'1);
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY
THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, AS
FOLLOWS:
Section 1 ADproval of Issuance of Bonds. The issuance of a'
principal amount not to exceed $16,000,000 of Bonds in order to
aid in the financing of the La Quinta Redevelopment Project Area
No. 1 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
I**O1615*OO12I3149956.1 a03l*OI98 2
BIB]
09-15-1998-U01
04:57:23PM-U01
ADMIN-U01
CCRES-U02
98-U02
26-U02
^"R 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.
PASSED, APPROVED and ADOPTED this 7th day of April, 1998 by
the following vote:
AYES: Council Members Adolph, Henderson, Perkins, Sniff,
Mayor Pefia
NOES: None
ABSENT: None
ABSTAIN: None
JOH%i, i;or
City of La Quinta, California
ATT T:
AUNDRA L. JUHO City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
City Attorney
City of La Quinta, California
3
BIB]
09-15-1998-U01
04:57:23PM-U01
ADMIN-U01
CCRES-U02
98-U02
26-U02
^"RSTATE OF CALIFORNIA CLERK'S CERTIFICATE
COUNTY OF RIVERSIDE SB. 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. 98-26 of the City and that the
*esolution 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
I*fO1615*OO1113149956.1 a03*3OI98 4
BIB]
09-15-1998-U01
04:57:23PM-U01
ADMIN-U01
CCRES-U02
98-U02
26-U02