HomeMy WebLinkAboutResolution 00-159 N.C.S. 07/17/2000 Resolution No. 00®159 TV.C. S.
of the City of Petaluma, California
APPR®~1G TI3E ISSUANCE ®F TAX ALL®CATI®N REFUNIDING
R®1VIIS RELATING TO REFUNIDING ®F I3®NI)S ISSUED F®R'I'HE
PETALUMA CENTRAL BUSINESS DISTRICT PR®JECT
WHEREAS, the Petaluma Community Development Commission (the "Commission")
issued its Petaluma Community Development commission Tax Allocation Bonds, Issue of 1984,
Series A, on May 15, 1985, in the original principal amount of $1,075,000 (the "1984 Bonds");
and
WHEREAS, the Commission has determined that interest savings will be realized ifthe
1984 Bonds are refunded; and
WHEREAS, the Commission has determined to issue its Petaluma Community
Development Commission, Central Business District Project, Tax Allocation Refunding Bonds,
Series 2000B (the "Bonds") pursuant to the Redevelopment Law and an Indenture of Trust, dated
as of October 1, 2000, by and between the Commission and Union Bank of California, as Trustee
for the purposed of providing funds to refund the Commission's 1984 Bonds; and
WHEREAS, in accordance with the requirements of Section 33640 of the California
Health and Safety Code, the city Council wishes at this time to approve the issuance of the Bonds
by the Commission;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Petaluma as
follows:
Section 1. The issuance of the Bonds by the Commission is hereby approved.
Section 2. This resolution shall take effect from and after the date of approval and
adoption thereof.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the
Council of the City of Petaluma at a Regular meeting on July 17, 200.0__Approved as to by the
following vote: ~ i f
~ _
City Attorney
AYES: Healy, Cader-Thompson, Keller, Maguire, Hamilton, ice Mayo orliatt
NOES: None
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ABSENT: Mayor Thompson ~
ATTEST: e `i`''
Beverly Kline, Ci ler Pamela Torliatt, Vice Mayor
Resolution No. 00-159 NCS