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RESOLUTION NO, 5313
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, APPROVING THE ISSUANCE BY
THE ARCADIA REDEVELOPMENT AGENCY OF ITS AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $4,000,000 CENTRAL
REDEVELOPMENT PROJECT TAX ALLOCATION NOTES, ISSUE
OF 1986, AND MAKING CERTAIN DETERMINATIONS
RELATING THERETO
WHEREAS, the Arcadia Redevelopment Agency (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)
(the "Law") and the powers of the Agency include the power to issue
bonds for any of its corporate purposes including the refunding of
previously issued bonds; and
WHEREAS, a Redevelopment Plan known as the "Redevelopment
Plan for the Central Redevelopment Project" (the "Redevelopment
Plan") has been adopted and approved by Ordinance No. 1490 of the
City of Arcadia (the "City"), which became effective on January 25,
1974, and all requirements of law for and precedent to the adoption
and approval of said Redevelopment Plan have been duly complied
wi th; and
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5313
WHEREAS, the Agency has adopted its Resolution on August 5,
1986, entitled:
"RESOLUTION OF THE ARCADIA REDEVELOPMENT AGENCY
AUTHORIZING THE ISSUANCE OF AN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $4,000,000 OF TAX
ALLOCATION NOTES OF SAID AGENCY TO FINANCE A
PORTION OF THE COST OF A REDEVELOPMENT PROJECT
KNOWN AS THE CENTRAL REDEVELOPMENT PROJECT; and
WHEREAS, under and pursuant to the above Resolution, the
Agency has authorized the issuance of an aggregate principal amount
not to exceed $4,000,000 Arcadia Redevelopment Agency, Central
Redevelopment Project, Tax Allocation Notes, Issue of 1986 (the
"Notes"), and shall hereafter award the Notes to the successful
bidder therefor.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
Section 1, Approval of Issuance of Notes. The issuance of
a principal amount not in excess of $4,000.000 of "Arcadia
Redevelopment Agency", Central Redevelopment Project, Tax Allocation
Notes, Issue of 1986, for the corporate purposes of the Agency
aiding in the financing of the Central Redevelopment Project, and
for other purposes related thereto, including the refunding of
previously issued bonds, all of which constitute a "redevelopment
activity", as such term is defined in Health and Safety Code Section
33678. is hereby authorized and approved pursuant to Health and
Safety Code Section 33640,
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Section 2, Effective Date. This Resolution shall take
effect upon adoption.
Passed, approved and adopted this 5th day of August
1986.
YJ;~;&:~
MAYOR OF E CIT OF ARC IA
ATTEST:
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City Clerk of the City of Arcadia
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF ARCADIA
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)
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SS:
1, CHRISTINE VAN MAANEN, City Clerk of the City of Arcadia,
hereby certify that the foregoing Resolution No, 5313 was passed and
adopted by the City Council of the City of Arcadia, signed by the
Mayor and attested to by the City Clerk at a regular meeting of said
Council held on the 5th! day of 1986, and that said Resolution was
adopted by the following vote, to-wit:
August
AYES: Councilmen Chandler, Gilb, Harbicht and Young
NOES: None
ABSENT: Councilman Lojeski
tl
City Clerk of the City of Arcadia
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5313
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