HomeMy WebLinkAbout1993 091 CC RESO1993 091 CC RESO (Ìì ¹ RESOLUTION NO. 93-91
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BALDWIN PARK, CALIFORNIA APPROVING THE
ISSUANCE BY THE BALDWIN PARK REDEVELOPMENT
AGENCY OF ITS BALDWIN PARK REDEVELOPMENT
AGENCY VARIABLE RATE DEMAND 1993 REFUNDING
REVENUE BONDS BALDWIN PARK HOTEL PROJECT)
AND MAKING CERTAIN DETERMINATIONS RELATING
THERETO
WHEREAS, Baldwin Park Redevelopment Agency herein
referred to as the Agency") is a redevelopment agency a public
body, corporate and politic) 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 Puente-Merced
Redevelopment Project" has been adopted and approved by an
ordinance of the City of Baldwin Park the City") and all
requirements of law for and precedent to the adoption and approval
of said Redevelopment Plan, as amended, have been duly complied
with; and
WHEREAS, the Agency has adopted its resolution the
Agency Resolution") entitled RESOLUTION OF BALDWIN PARK
REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE, SALE AND DELIVERY
OF NOT TO EXCEED FIFTEEN MILLION FIVE HUNDRED THOUSAND
$15,500,000) BALDWIN PARK REDEVELOPMENT AGENCY VARIABLE RATE
DEMAND 1993 REFUNDING REVENUE BONDS BALDWIN PARK HOTEL PROJECT),
APPROVING THE FORM OF INDENTURE, INSTALLMENT SALE AGREEMENT,
INTERCREDITOR AGREEMENT, REMARKETING AGREEMENT, PRELIMINARY
OFFICIAL STATEMENT AND BOND PURCHASE AGREEMENT AND AUTHORIZING
RELATED ACTIONS IN CONNECTION THEREWITH."
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BALDWIN
PARK, CALIFORNIA DOES HEREBY RESOLVE AS FOLLOWS:
Section 1:
Approval of Issuance of Bonds. The issuance of an
aggregate principal amount of Fifteen Million Five Hundred
Thousand $15,500,000) designated the Baldwin Park Redevelopment
Agency, Variable Rate Demand 1993 Refunding Revenue Bonds Baldwin
Park Hotel Project) the Bonds"), in order to aid in the
financing of the Puente-Merced Redevelopment Project, 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:
Effective date. This Resolution shall take effect on
the later of August 24, 1993 or the day the order of the
Bankruptcy Court approving the Settlement, the sale of the assets
of the Prior Partnership to the Partnership and the refinancing
of the Project through the issuance of the Bonds becomes final.
Capitalized terms not otherwise defined herein shall have the
meanings assigned thereto in the Agency Resolution.
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1993 091 CC RESO (Ìì ¹ Resolution No. 93- 91
Page Two
APPROVED AND ADOPTED this 18th day of August, 1993.
MAYOR
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) ss.
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin
Park, do hereby certify that the foregoing Resolution was
regularly approved and passed at a REGULAR MEETING of the Baldwin
Park City Council on the 18th day of August, 1993, by the
following vote:
AYES: COUNCILMEN MAYOR VARGAS, MCNEILL, GALLEGOS, IZELL, MARTINEZ
NOES: COUNCILMEN NONE
ABSENT: COUNCILMEN NONE
ABSTAIN: COUNCILMEN NONE
BIB]
37650-U01
1993-U02
091-U02
CC-U02
RESO-U02
LI3-U03
FO1126-U03
FO1127-U03
DO1661-U03
C6-U03
RESO-U03
10/10/2001-U04
ADMIN-U04
RESO-U05
93-91-U05
AUG-U05
18-U05
1993-U05