HomeMy WebLinkAbout1987 014 CC RESO1987 014 CC RESO (Ìì ÷ ß RESOLUTION NO. 87-14
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BALDWIN PARK APPROVING THE REFINANCING OF
A PORTION OF THE SAN GABRIEL RIVER REDEVELOPMENT
PROJECT BY THE BALDWIN PARK REDEVEOPMENT 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 $6,000,000
aggregate principal amount of its San Gabriel River Redevelopment
Project 1985 Tax Allocation Refunding Notes the 1985 Notes")
in connection with the financing of its San Gabriel River
Redevelopment Project the Project"); and
WHEREAS, the Agency has indicated its intention to
issue not to exceed $10,000 /000 aggregate principal amount of
San Gabriel River Redevelopment Project Tax Allocation Bonds,
1987 Series A Refunding Parity Bonds and 1987 Series B Taxable
Parity Bonds the Bonds"), for the purpose of refunding the
1985 Notes and to pay the costs of issuing the Bonds; 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 February 4, 1987 in a newspaper of general circulation
in the City of Baldwin Park, which notice set 7:00 p.m. on February
4, 1987 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 refinancing of a portion of the Project and
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 not to exceed $10/000,000 principal
amount of the Agency's San Gabriel River Redevelopment Project
Tax Allocation Bonds, 1987 Series A Refunding Parity Bonds and
1987 Series B Taxable Parity Bonds, pursuant to provisions of
the Act, all subject to the requirements of the Act. This approval
is intended to satisfy the requirements of the California Health
and Safety Code Section 33640 and Section 147(f) of the Code.
BIB]
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1987 014 CC RESO (Ìì ÷ ß RESOLUTIOI,! NO. 87-14
PAGE TWO
SECTION 2. Effective Date. This Resolution shall
take effect immediately upon adoption.
APPROVED and ADOPTED this 4t
y of February, 1987.
/X}^
MAYOR
ATTEST:
VLNDA L.GAIR, CITY CLERK
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS.
CITY OF BALDWIN PARK
I, LINDA L. 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 a Regular Meeting and Public Hearing thereof
held on the 4th day of February, 1987, by the following vote
of the City Council:
AYES: COUNCILMEN I2ELL, GIBSON, KING AND MAYOR WHITE
NOES: COUNCILMEN NONE
ABSENT: COUNCILMEN NONE
LI^IDA L. GfClR, CITY CLERK
BIB]
37847-U01
1987-U02
014-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO20370-U03
DO20546-U03
C6-U03
RESO-U03
8/12/2003-U04
ROBIN-U04