Res 85-098RESOLUTIONN0. 85-098
A RESOLUTION OF THE CITY (IX3NCIL
OF ~ CITY OF POWAY, C~TJFORNIA,
APPROVING THE ISSUANCE BY THE Pf~AY REDEV~PMfl~T
OF ITS P~3AY RfDEV~OPM~T PROJECT TAX
;~LTOCATION BONDS, SERIES 1985, A~D MAKING
C.:~TAIN DETERMINATIONS ~ATING TfIERE~O
~%F~AS, the Poway Redevelopment Agency (the "Agency") is a redevelopment
agency duly created, established and authorized to transact business and exer-
cise its powers, all tun. er and pursuant to the O~t,,L~nity Redevelolm~ent 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
WHERE~, a Redeveloim~=-nt Plan known as the "Paguay Redeveloix~ent Project"
has been adopted and approved by the City of Poway (the "City"), and all
requirements of law for the precedent to the adoption and approval of said
Redeveloix~ent Plan, as amended, have been duly complied with; and
WHEREAS, the Agency has adopted its Resolution entitled:
RESOLUTION OF THE P(]WAY ~RnEVELOPM~ AGENCY
AUTHORIZING THE ISSUANCE OF $4,260,000 PRINCIPAL
AMOUN~ OF TAX ~L~OCATION BOSDS OF SAID ~ TO
FINANCE A PORTION OF THE COST OF A R~DEVELOPM~gT
PROJECT KNOWN AS THE PAGUAY R~DEVELOPM~gT PRfklSL~
and its Resolution entitled:
A RESOLUTION OF THE POW;kY REDEVELOPMENT ~C~RNCY
AWARDING THE $4,260,000 PAGUAY REDEVELOPM~gT
PROJECT TAX ~LTOCATION BOSDS, ~q~RIES 1985 TO THE
BEST BIDDER, REJECTING ALL OTHER BIDS ASD
APPROVING C~RTAIN OTH]~{ DOCUMENTS IN CONNECTION
WHEREAS, under and pursuant to the above Resolution, the Agency has
authorized the issuance and sale of $4,260,000 Poway Redevelopment Agency Paguay
Red_evelo~mlent Project Tax Allocation Bonds, Series 1985 (the "Bonds").
N~W, THEREFORE, BE IT RESOLVfD, DE~ERMIN~D A~D ORDfI~fD BY the City Oouncil
of the City of Poway, California, as follows:
Section 1. Approval of Issuance of Bonds. The issuance of an aggregate
principal amount of $4,260,000 of "Poway Redevelopment Agency Paguay Redevelop-
~nt Project Tax Allocation Bo~, Series 1985" (the "Bonds"), in order to aid
in the financing of the Paguay Redeveloim~_nt Project, and for other purposes
related thereto, all of which constitute a "redevelofm~ent activity", as such
term is defined in Health and Safety Code Section 33640.
Resolution No. 85-098
Page 2
Section 2. Effective Date. This Resolution shall take effect upon
adoption.
PASSED, ADOPTED ASD APPROVED, by the City Council of the City of Poway,
~]ifornia, at a regular m~cting thereof this 10th day of December, 1985.
~Y, ORAVEC, S~RDARDSON, TARZY, KRUSE
jo~e\.K. Wahlsten, City Clerk
6/B~-q/R/Issuel - Issue2/CP25