Res 91-117RESOLUTION NO. 91-117
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF POWAY APPROVING THE ISSUANCE OF POWAY
COMMUNITY REDEVELOPMENT AGENCY, PAGUAY
REDEVELOPMENT PROJECT SUBORDINATED TAX
ALLOCATION REFUNDING BONDS, ISSUE OF 1991
AND APPROVING, AUTHORIZING AND DIRECTING
EXECUTION OF INDENTURE OF TRUST AND OFFICIAL
STATEMENT
WHEREAS, the Poway Redevelopment Agency (the "Agency")
proposes to issue its Paguay Redevelopment Project Subordinated
Tax Allocation Refunding Bonds, Issue of 1991 in an aggregate
principal amount of not to exceed $10,250,000 (collectively,
the "Bonds") for the purpose of refunding the Agency's
outstanding promissory note to C.F. Poway, Ltd., dated as of
October 1, 1991 (the "Agency Note");
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF POWAY, CALIFORNIA, that the
issuance of the Bonds by the Agency to refund the Agency Note
and the entering into of the Indenture of Trust are hereby
approved.
PASSED, ADOPTED AND APPROVED by the City Council of Poway,
California, at a regular meeting thereof this 8th Iay of
October, 1991.
ATTEST:
Go]
smith, chairman
MarjorieiK. Wahlsten, Secretary
Resolution No. 91-117
Page 2
STATE OF CALIFORNIA )
) SS.
COUNTY OF SAN DIEGO )
I, Marjorie K. Wahlsten, City Clerk of the City of Poway, do
hereby certify the foregoing Resolution No. 91-117 was duly
adopted by the City Council at a meeting of said City Council on
the Sth day of October, 1991 and that it was so adopted by the
following vote:
AYES: EMERY, SNESK0, GOLDSMITH
NOES: NONE
ABSTAIN: MC INTYRE
ABSENT: HIGGINSON
Marjorie/K. Wahlsten, City Clerk
City o~_Poway