HomeMy WebLinkAboutResolution 00-067 N.C.S. 04/17/2000 Resolution No. 00-6' N.C.S.
of the City of Petaluma, California
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PETALI.TMA
APPROVING ISSUANCE BY THE PETALUMA COMMUNITY DEVELOPMENT
COMMISSION OF NOT TO EXCEED $18,000,000 IN 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) ofthe California Health and Safety Code (the "act") to issue bonds for any of its
corporate purposes; and
WHEREAS, in order to provide financing for certain improvements,
(collectively, the "Project") and to refinance certain outstanding obligations of the Commission,
the Commission has indicated its intention to issue not to exceed $18,000,000 aggregate
pprincippal amount of Petaluma Community Development Project Tax Allocation Bonds, Series
2000A (the "Bonds"); and
WHEREAS, the Redevelopment Plan for the Petaluma Community Development
Project provides that the Commission is specifically authorized to provide certain public
improvements, including those improvements constituting the Project; 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 COUNCII, OF THE CITY OF PETALUMA AS FOLLOWS:
SECTION 1. Approval of Financing. This City Council hereby approves the
financing of the Project and other purposes related thereto, all of which constitute a
"redevelopment activity" as such term is defined in Section 33678 of the Act, by means of the
issuance of not to exceed $18,000,000 aggregate princippal 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.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a (Regular) (~efjX>~calfl~ala~I) meeting ---=form
on the ......_.~.7.t_YA..... day of ...............1~)~L.]..),..:~..._.2.Q.O.Q.........., by the "
r
following vote:
City tforney
AYES: Healy, Cader-Thompson, Keller, Hamilton, Maguire, Vice Mayor Torliatt,
Mayor Thompson
NOES: 0
ABSENT : 0 -
ATTEST :
City Clerk ~ Mayor
Gbuncil File..._....~.Q._.6..~.......
CA IU.HS Rcs. Nn . N.C.S.