HomeMy WebLinkAboutReso 93-348 - Aprove issuance & sale of Redding Redevelopment Agency Market St Redevelopment Project Tax allocation bonds, series A to the RJPFA RESOLUTION NO. 93- 3 Vd
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDDING APPROVING THE ISSUANCE AND SALE OF THE
REDDING REDEVELOPMENT AGENCY MARKET STREET
REDEVELOPMENT PROJECT TAX ALLOCATION BONDS, SERIES
A TO THE REDDING JOINT POWERS FINANCING AUTHORITY
AND AUTHORIZING THE TAKING OF ALL NECESSARY
ACTIONS IN CONNECTION THEREWITH
WHEREAS, the Redding Redevelopment Agency (the
"Agency") has authorized, by resolution duly adopted on this date
(the "Agency Resolution" ) , the issuance of its Market Street
Redevelopment Project Tax Allocation Bonds, Series A (the "Series
A Bonds") in an aggregate principal amount not to exceed
$2 , 500, 000 to finance public improvements within the Market
Street Redevelopment Project as described in the Redevelopment
Plan, approved and adopted by Ordinance No. 973 , adopted on
July 3 , 1968 and amended by Ordinance Nos. 1173, 1295, 1299 and
1923 (the "Market Street Redevelopment Project" ) pursuant to Part
1 of Division 24 of the Health and Safety Code (the "Law" ) ; and
WHEREAS, the Agency desires to sell the Series A Bonds
to the Redding Joint Powers Financing Authority which will, in
turn, sell the Series A Bonds to J.P. Morgan Securities Inc. ;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Redding as follows:
Section 1. The issuance of the Series A Bonds by the
Agency is hereby approved. The sale of the Series A Bonds by the
Agency to, and the purchase thereof by, the Redding Joint Powers
SF2-21172.1
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Financing Authority for sale to J. P. Morgan Securities Inc. , as
provided in the Agency Resolution, is hereby approved.
Section 2 . The officers of the City are hereby
authorized and directed, jointly and severally, to do any and all
things and to execute and deliver any and all documents,
certificates and other instruments which they may deem necessary
or advisable in order to consummate the issuance, saie and
delivery of the Series A Bonds by the Agency, and to execute and
deliver such certificates and other documents as they may deem
appropriate and otherwise to carry out, give effect to and comply
with the terms and intent of this resolution and the documents
herein approved and authorized to be executed.
Section 3 . This resolution shall take effect from and
after its passage and approval.
SF2-21172.1 2
I HEREBY CERTIFY that the foregoing resolution was
introduced and read at a Regular meeting of the City
Council of the City of Redding on the 21st day of September,
1993 , and was duly adopted at said meeting by the following vote:
AYES: Anderson, Dahl, Kehoe, Moss and Arness
NOES : None
ABSENT: None
Mayor
City of Redding
(Seal)
ATTEST: _
Connie Strohmayer, C'" y lerk
FORM APPROVED:
RandaA. Hays
City 9torney of the
City of Redding
M-21172.1 3