HomeMy WebLinkAboutResolution 2001-091 N.C.S. 05/07/2001Resolution No. 2001-091 N.C.S.
of the City of Petaluma, California
APPROVING THE ISSUANCE BY THE PETALUMA COMMUNITY DEVELOPMENT
COMMISSION OF NOT TO EXCEED $5,000,000 IN REFUNDING TAX ALLOCATION
BONDS FOR THE PURPOSE OF FINANCING AND REFINANCING OF CERTAIN
PUBLIC .IMPROVEMENTS
WHEREAS, the Petaluma Community Development Commission (the Commission) is
authorized pursuant to Part 1 of Division 24 (commencing with Section 33000) of the California
Health and Safety Code (the Act) to issue bonds for any of its corporate purposes: and
WHEREAS, in order to refinance the Commission's Petaluma Community Development
Project Tax Allocation Bonds, Series 1992A (the Prior Bonds), the Commission has indicated its
intention to issue not to exceed $5,000,000 aggregate principal amount of Petaluma Community
Development Project Refunding Tax Allocation Bonds, Series 2001A (the Bonds); and
WHEREAS, pursuant to the Act, the City Council also must authorize the issuance of the
Bonds by the Commission:
NOW, THEREFORE BE IT RESOLVED, DETERMINED AND ORDERED BY
THE CITY COUNCIL OF THE CITY OF PETALUMA AS FOLLOWS:
SECTION 1. Approval of Financing. This City Council hereby approves the refinancing
of the Prior Bonds and other purposes related thereto, by means of the issuance of not to exceed
$x,000,000 aggregate principal amount of the Bonds, pursuant to the provisions and subject to
the requirements of the Act. This approval is intended to satisfy the requirements of Health and
Safety Code Section 33640.
SECTION 2. Effective Date. This Resolution shall take effect immediately upon
adoption.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCEc I hereby certify the foregoing Resolution was introduced and adopted by the
Council of the City of Petaluma at a Regular meeting on, May 7, 2001, Approved as to
by the following vote: form.:
City Attorney
AYES: O'Brien, Healy, Torliatt, Maguire, Moynihan, Vice Mayor Cider-Thompson
Mayor Thompson
NOES: None
ABSENT: None
ATTEST:____'~~ A A I
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Resolution No. 2 001- OlQdS