HomeMy WebLinkAboutReso 2001-172 - Canby-Hilltop-Cypress P
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CITY COUNCIL RESOLUTION NO. 2001-/7 2--
RESOLUTION APPROVING THE ISSUANCE AND SALE OF THE REDDING
REDEVELOPMENT AGENCY CANBY-HILLTOP-CYPRESS PROJECT AREA
HOUSING SET-ASIDE TAX ALLOCATION BONDS, 2001 SERIES A
(TAXABLE) AND 2001 SERIES B
WHEREAS,pursuant to a resolution adopted on the date hereof(the"Agency Resolution"),
the Redding Redevelopment Agency(the"Agency")has deteiniined to issue and sell not to exceed
$7,000,000 aggregate principal amount of its Canby-Hilltop-Cypress Project Area Housing Set-
Aside Tax Allocation Bonds, 2001 Series A (Taxable) (the "Series A Bonds") and not to exceed
$3,700,000 aggregate principal amount of its Canby-Hilltop-Cypress Project Area Housing Set-
Aside Tax Allocation Bonds,2001 Series B (the"Series B Bonds",and together with the Series A
Bonds, the"Agency Bonds") in accordance with the California Community Redevelopment Law
(being Part 1 of Division 24 of the California Health and Safety Code)(the"Law")to provide funds
to increase,improve and/or preserve the supply of low and moderate income housing within the City
of Redding; and
WHEREAS,the Redding Joint Powers Financing Authority(the"Authority")will assist the
Agency in financing the projects to be financed with proceeds of the Agency Bonds by purchasing
the Agency Bonds and selling such Agency Bonds to the underwriter named in the bond purchase
contract between the Authority and such underwriter and executed in accordance with the Agency
Resolution;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redding as
follows:
Section 1. The issuance of the Agency Bonds by the Agency is hereby approved. The sale
of the Agency Bonds to the Authority, as provided in the Agency Resolution, is hereby approved.
Section 2. This Resolution shall take effect from and after its passage and approval.
I HEREBY CERTIFY that the foregoing resolution was introduced and read at the regular
meeting of the City Council of the City of Redding on the 6th day of November 2001 and was duly
adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Cibula, Pohlmeyer, Stegall and McGeorge
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Kight
ABSTAIN: COUNCIL MEMBERS: None
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David L. t 'rge, For /
ATTEST: APPROVED S TO FORM:
p0: 14/ "..77
Connie Strohmayer, Citydclerk W. Leonard Wingate, Cit ttorney
DOCSSF1:563435.3
CITY CLERK'S CERTIFICATE
I, Connie Strohmayer, City Clerk of the City of Redding, hereby certify as follows:
The foregoing is a full, true and correct copy of a resolution duly adopted at a regular
meeting of the City Council of said City duly and legally held at the regular meeting place thereof
on November 6,2001,of which meeting all of the members of the City Council of said City had due
notice and at each of which a majority thereof were present.
I have carefully compared said resolution with the original minutes of said meeting on file
and of record in my office,and the foregoing is a full,true and correct copy of the original resolution
adopted at said meeting by the following roll call vote:
AYES:
NOES:
ABSENT:
Said resolution,as adopted on such date,has not been amended,modified or rescinded,and
the same is now in full force and effect.
Dated: ll- , 2001
CityClerk ofhe Cof Reddin
g
(Seal)
DOCSSF1:563435.3 2