HomeMy WebLinkAboutReso. 1989-253 - Approving the sale of redding redevelopment agency canby-hilltop-cypress f 1 J 4
RESOLUTION NO. g9-.25
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE SALE OF THE REDDING REDEVELOPMENT AGENCY
CANBY-HILLTOP-CYPRESS REDEVELOPMENT PROJECT TAX
ALLOCATION BONDS, SERIES B BY THE REDDING REDEVELOPMENT
AGENCY AND THE PURCHASE AND SALE OF SUCH BONDS BY THE
REDDING JOINT POWERS FINANCING AUTHORITY
WHEREAS, the Redding Redevelopment Agency has determined
to sell its not to exceed $5, 500, 000 aggregate principal
amount of Canby-Hilltop-Cypress Redevelopment Project Tax
Allocation Bonds, Series B (the "Bonds" ) to provide funds to
aid in financing the Canby-Hilltop-Cypress Redevelopment
Project in accordance with Resolution No. 89- 6 , duly adopted
by said Agency;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Redding as follows:
Section 1 . The sale of the Bonds by the Redding
Redevelopment Agency as provided in said Resolution No . 89- 6 ,
is hereby approved.
Section 2 . The purchase of the Bonds from the Redding
Redevelopment Agency by the Redding Joint Powers Financing
Authority and the sale of the Bonds by such Authority to
Shearson Lehman Hutton Inc . , upon such terms and conditions as
such Authority may approve, is hereby approved.
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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 1st day of August, 1989, and was
duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Buffum, Dahl , Fulton, & Carter
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Johanness n
ABSTAIN: COUNCIL MEMBERS: None
II
Scott arter, Mayor
j City of Redding
( Seal)
ATTEST:
ese,edlC.f.
Ethel Nichols, City Clerk
FORM APPROVED:
H
Ra dall A. Hays
City Attorney of the
City of Redding
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