HomeMy WebLinkAbout1986 115 CC RESO1986 115 CC RESO ø RESOLUTION NO- 86-115
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF BALDWIN PARK APPROVING REFINANCING
AND FINANCING OF A PORTION OP THE CENTRAL
BUSINESS DISTRICT REDEVELOPMENT PROJECT BY
THE BALDWIN PARK REDEVELOPMENT AGENCY
WHEREAS, the Baldwin Park Redevelopment Agency the
Agency") is authorized pursuant to Chapter 8 commencing with
Section 33000) of Part 1 of Division 24 of the California Health
and Safety Code the Act") to issue bonds for any of its
corporate purposes; and
WHEREAS, the Agency has heretofore issued $2,500,000
aggregate principal amount of its Central Business District
Redevelopment Project 1985 Tax Allocation Notes the 1985 Notes");
and
WHEREAS, the Agency/ in order to provide financing for
its Central Business District Redevelopment Project the Project"),
has indicated its intention to issue $5,600,000 aggregate principal
amount of Central Business District Redevelopment Project Tax
Allocation and Refunding Bonds, 1986 Series the Bonds"), the
proceeds of which shall be used to refund the 1985 Notes and to
provide funds for certain redevelopment purposes; and
WHEREAS, notice of a public hearing to be conducted by
this City Council with respect to the proposed financing of the
Project by the Agency was duly published at least 10 days prior
to December 18, 1986 in a newspaper of general circulation in the
City of Baldwin Park, which notice set 5:00 p.m. on December 18,
1986 and the City Council chambers as the time and place for said
hearing; and
WHEREAS, this City Council is the applicable governmental
unit to conduct said public hearing for purposes of Section 147(f)
of the Internal Revenue Code of 1986, as amended the Code")
and
WHEREAS, this City Council has duly held said public
meeting and hearing with respect to the Project and its proposed
financing by the Agency, all in accordance with Section 147(f) of
the Code, at which public hearing interested individuals were
given a reasonable opportunity to express their views on the Project
and its proposed financing by the Agency.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF BALDWIN PARK AS FOLLOWS:
SECTION 1. Approval of Financing. This City Council
hereby approves the financing and refinancing of a portion of the
Project and for other purposes related thereto, all of which
constitute a redevelopment activity" as such term is defined in
the Act, by means of the issuance of $5,600,000 principal amount
of the Agency's Central Business District Redevelopment Project
Tax Allocation and Refunding Bonds, 1986 Series, pursuant to
provisions of the Act, all subject to the requirements of the Act.
This approval is intended to satisfy the requirements of Health
and Safety Code Section 33640 and Section 147(f) of the Code.
BIB]
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1986 115 CC RESO ø RESOLUTION 86-115
PAGE TWO
SECTION 2. Effective Date. This Resolution shall take
effect immediately upon adoption.
APPROVED and ADOPTED this 18bn day of December, 1986.
v^^6o/^
MAYOR
ATTEST:
CLER^OF THE CITY OF
BALDWIN f^ARK, CALIFORNIA
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) ss
CITY OF BALDWIN PARK
I, LINDA GAIR, City Clerk of the City of Baldwin Park,
California, do hereby certify that the foregoing Resolution was
approved and adopted by the City Council of the City of Baldwin
Park, California, at an adjourned regular meeting and public hearing
thereof held on the 18th day of December, 1986, by the following
vote of the City Council:
AYES: KING, IZELL, GIBSON AND MAYOR WHITE_____________
NOES NONE__________________________________________
ABSENT: NONE
BIB]
37847-U01
1986-U02
115-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO20545-U03
DO20562-U03
C6-U03
RESO-U03
8/12/2003-U04
ROBIN-U04