HomeMy WebLinkAboutReso 2006-118 - Shastec Redevelopment Bonds
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CERTIFICATE OF THE CITY CLERK OF THE CITY OF REDDING
I, CONNIE STROHMA YER, City Clerk of the City of Redding, hereby certify
that the foregoing is a full, true and correct copy of Resolution No. 2006-118 duly adopted at a
meeting of the City Council of the City of Redding duly and regularly held on July 5,2006 of
which meeting all the members of said City Council had due notice.
I further certify that I have carefully compared the foregoing copy with the
original minutes of said meeting on file and of record in my office; that said copy is ,~ true,
complete and correct copy of the, original resolution duly adopted at said meeting and entered in
said minutes; and that said resolution has not been modified, amended, rescinded or revoked in '
any manner since the date of its adoption, and the same is now in full force and effect.
IN WITNESS WHEREOF, I have executed this certificate this 16th day of
August, 2006.
CITY OF REDDING
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CITY COUNCIL RESOLUTION NO. 2006 - -11L
RESOLUTION APPROVING THE ISSUANCE AND SALE OF THE
REDDING REDEVELOPMENT AGENCY SHASTEC REDEVELOPMENT
PROJECT AREA TAX ALLOCATION BONDS, SERIES 2006
WHEREAS, pursuant to a resolution adopted on the date hereof (the "Agency
Resolution"), the Redding Redevelopment Agency (the "Agency") has determined to issue and
sell not to exceed $16,000,000 aggregate principal amount of its SHASTEC Redevelopment
Project Area Tax Allocation Bonds, Series 2006 (the" 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 fInance the redevelopment plan for the SHASTEC
Redevelopment Project Area (the "Project Area") and to provide additional funds for
improvements within or benefIting the Project Area; and
WHEREAS, the Redding Joint Powers Financing Authority (the "Authority") will assist
the Agency in such fmancing by purchasing the Bonds and selling such 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 Bonds by the Agency is hereby approved. The sale of the
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.
Section 3. The City hereby confIrms, acknowledges and agrees that any and all amounts
owed to the City by the Agency pursuant to the Repayment Agreement, effective May 18, 1999,
among the City, the Agency, the Shasta County Redevelopment Agency and the Anderson
Redevelopment Agency, to the extent such amounts are secured by or payable from tax
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increment revenues payable to or received by the Agency from the SHASTEC Redevelopment
Project pursuant to Section 33670 of the California Health and Safety Code are subordinate and
junior in all respects to the pledge and lien established by the Agency to secure the Bonds and
shall be paid in each fiscal year only after all amounts due and payable on the Bonds in such
fiscal year have been paid in full.
PASSED AND ADOPTED on July 5, 2006, by the following vote:
A YES: Dickerson, Mathena, Pohlmeyer, Stegall, and Murray
NOES: None
ABSENT: None
ABSTAIN: None
[SEAL]
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Approved as io'Forrn':~ \'"
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RICHARD A. DUVERNA. Y, City Att ey
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CITY CLERK'S CERTIFICATE
I, CONNIE STROHMA YER, 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 July 5, 2006, 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: Dickerson, Mathena, Pohlmeyer, Stegall, and Murray
NOES: None
ABSENT: None
ABSTAIN: None
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: M /6 ,2006
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