HomeMy WebLinkAbout92-47RESOLUTION NO. 92-47
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF UKIAH APPROVING THE ISSUANCE AND SALE BY
THE UKIAH REDEVELOPMENT AGENCY OF ITS UKIAH
REDEVELOPMENT PROJECT 1992 TAX ALLOCATION
NOTES
WHEREAS, the Redevelopment Agency of the City of Ukiah (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, the redevelopment plan (the "Redevelopment Plan")
for a redevelopment project known and designated as "Ukiah
Redevelopment Project," for that certain project area described
in the Redevelopment Plan, has been adopted and approved by
Ordinance No. 895 of the City of Ukiah adopted on November 15,
1989, and all requirements of law for and precedent to the
adoption and approval of the Redevelopment Plan have been duly
complied with; and
WHEREAS, pursuant to Resolution No URA 92-7, the Agency
has authorized the issuance and sale o~ not to exceed
$6,000,000 principal amount of its Ukiah Redevelopment Project
1992 Tax Allocation Notes (the "Notes").
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE
CITY OF UKIAH HEREBY FINDS, DETERMINES AND ORDERS as follows:
Section 1. Approval of Issuance of Notes. The issuance of
the Notes for the purpose of providing financing for the
implementation of the Redevelopment Plan and for other purposes
related thereto, all of which constitute a "redevelopment
activity," as such term is defined in Health and Safety Code
Section 33640, is hereby approved.
Section 2. Distribution of Resolution. The City Clerk
shall provide a copy of this Resolution to the Secretary of the
Agency.
PASSED AND ADOPTED on the 15th day of April, 1992 by the
following vote:
AYES' Councilmembers McMichael, Wattenburger, Shoemaker, Schneiter,
and Mayor Henderson
NOES: None
ABSENT: None
ATTEST
~ C~t~ Cle%k
Cath~McKay /
Mayor
Colleen B. Henderson
7051001/4