HomeMy WebLinkAbout1982 017 CC RESO1982 017 CC RESO (Ìì ì ŽpeRESOLUTION NO. 82-17
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF BALDWIN PARK APPROVING THE
ISSUANCE BY THE BALCOTIN PARK REDEVELOPMENT
AGENCY OF ITS RESIDENTIAL M3RTGAGE REVENUE
NOTES, ISSUE OF 1982, IN A PRINCIPAL AM3UNT
OP $10/500/000
WHEREAS, the Baldwin Park Redevelopment 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,
connencing 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 notes for the purpose of financing
such residential construction a Residential Mortgage Financing
Program"); and
WHEREAS, the Baldwin Park Redevelopnent Agency has
determined to implement a Residential Mortgage Financing Program
and to provide for the issuance of Residential Mortgage Revenue
Notes, Issue of 1982, 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 Notes,
NCW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Baldwin Park:
SECTION 1. That the Baldwin Park Redevelopment Agency
is hereby given approval to issue said Residential Mortgage Revenue
Notes, Issue of 1982, in the principal amount of $10,500,000.
SECTION 2. That the City Clerk shall certify to the
adoption of this resolution.
APPROVED and PASSED this 17th day o/Febreuary, 1982.
ATTEST:
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L. GAIR, 2tTY CLEW
STATE OP 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 17th day of February, 1982, by the following vote:
AYES: COUNCHMEN McNEILL, KING, AGUILER, HOL^AN AND MAYOR WHITE
NOES: COUNCIIMEN NONE__________________________________
ABSENT: COUNCimEN NONE
/-^ /
J-<>^<^
Ll^DA L. GAIR.^ClTY CLERK
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