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RESOLUTION NO. 6436
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARCADIA, CALIFORNIA ELECTING TO RECEIVE
ALLOCATIONS OF TAX INCREMENT PURSUANT TO
HEALTH AND SAFETY CODE SECTION 33607.5(b)
WHEREAS, the Redevelopment Agency of the City of Arcadia ("Agency")
adopted a redevelopment plan ("Redevelopment Plan") for the Central Redevelopment Project
Area ("Project Area") pursuant to the provisions of the California Community Redevelopment
Law ("CRL") (Health and Safety Code Section 33000 et seq.); and
WHEREAS, with respect to the Project Area, CRL Section 33607.5(b) provides
that the City of Arcadia, as the community adopting the Redevelopment Plan, may elect to
receive the amount of tax increment from the Project Area authorized by Section 33607 .5(b); and
WHEREAS, the City Council of the City of Arcadia hereby desires to make the
election allowed by CRL Section 33607.5(b).
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS:
Section 1. In accordance with the authority granted by CRL Section
33607.5(b), the City Council of the City of Arcadia hereby elects to receive that amount of tax
increment from the Project Area authorized by Section 33607.5(b). The first fiscal year to which
this election shall apply shall be fiscal year 2004-05 and such election shall automatically
continue for every fiscal year thereafter.
Section 2. City staff is authorized and directed to forward a certified copy of
this resolution to the Los Angeles County Auditor Controller's office. The City Manager is
hereby authorized and directed to execute, with the concurrence of the City Attorney, such
documents and take such other actions as may be necessary or convenient in the administration
of the actions authorized by this resolution.
Section 3.
The City Clerk shall certify to the adoption of this Resolution.
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6436
PASSED, APPROVED AND ADOPTED this 15th day of
ATTEST:
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APPROVED AS TO FORM:
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City of Arcadia
June
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May, of the ity of Arcadia
2
,2004.
6436
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS:
CITY OF ARCADIA )
I, JAMES H. BARROWS, City Clerk of the City of Arcadia, hereby certifies
that the foregoing Resolution No. 6436 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 15th day of June, 2004 and that said Resolution
was adopted by the following vote, to wit:
A YES: Council Member Chandler, Marshall, Segal, Wuo and Kovacic
NOES: None
ABSENT: None
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ity Clerk of the City of Arcadia
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6436