HomeMy WebLinkAbout1980 018 CC RESO1980 018 CC RESO (Ìì í RESOLUTION NO. 80-18
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF BALDWIN PARK APPROVING
THE ISSUANCE BY THE BALDWIN PARK
REDEVELOPMENT AGENCY OF RESIDENTIAL
MORTGAGE REVENUE BONDS, ISSUE OF
1980, IN A PRINCIPAL AMOUNT NOT TO
EXCEED $2,245,000 WEST RAMONA
BOULEVARD REDEVELOPMENT PROJECT)
RESOLVED, by the City Council of the City of Baldwin Park, County
of Los Angeles, California, as follows:
WHEREAS, the Baldwin Park Redvelopment Agency has undertaken
and is carrying out a redevelopment program in the City of Baldwin Park in
accordance with the provisions of the California Community Redevelopment
Law; and
WHEREAS, by the enactment of Chapter 8 of Part 1, commencing with
Section 33750, of Division 24 of the Health and Safety Code of the State of
California, the legislature of the State has authorized redevelopment agencies
to make long-term, low-interest loans to finance residential construction in
redevelopment project areas in order to encourage investment and upgrade such
areas, and to issue bonds for the purpose of financing such residential
construction a Residential Mortgage Financing Program"); and
WHEREAS, the Baldwin Park Redevelopment Agency has determined to
implement a Residential Mortgage Financing Program and to provide for the
issuance of Residential Mortgage Revenue Bonds, Issue of 1980, of the Baldwin
Park Redevelopment Agency, the proceeds of which are to be used to carry out
such Program; and
WHEREAS, Section 33640 of the Health and Safety Code requires the Agency
to obtain the approval of the City Council of the City of Baldwin Park, prior to
issuance of such Bonds.
NOW. THEREFORE. IT IS HEREBY ORDERED by the City Council of the City of
Baldwin Park that the Baldwin Park Redevelopment Agency is hereby given approval
to issue said Residential Mortgage Revenue Bonds, Issue of 1980, in a principal
amount not to exceed $2,245,000.
SECTION 1. That the City Clerk shall certify to the adoption of
this Resolution. /"/
APPROVED AND ADOPTED this 13th day of/^arc/ 1980.
ATTEST:
2^^/S^U^
THELMA L. BALKUS, CITY CLERK
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS:
CITY OF BALDWIN PARK
I, THELMA L. BALKUS, City Clerk of the City of Baldwin Park. do
hereby certify that the foregoing Resolution was duly approved and adopted by
the City Council of the City of Baldwin Park at an Adjourned Regular meeting
of the City Council on the 13th day of March, 1980 by the following vote:
AYES: COUNCILMEN Aguilar, Izell, teNeill and l^yor White_______
NOES: COUNCILMEN
ABSENT: COUNCILMEN
a^L^-r-
THELMA L. BALKUS. CITY CLERK
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