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HomeMy WebLinkAbout10-011 CC Resolution RESOLUTION NO. 10 -11 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA APPROVING THE ISSUANCE BY THE REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA OF TAX ALLOCATION HOUSING BONDS THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The Redevelopment Agency of the City of Temecula (the "Agency ") has determined at this time to issue its Redevelopment Agency of the City of Temecula, Temecula Redevelopment Project No. 1 2010 Tax Allocation Housing Bonds (the "Bonds") to provide funds to finance certain housing activities of the Agency Section 2. 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 and sale of the Bonds by the Agency. Section 3. The issuance and sale of the Bonds by the Agency in the aggregate principal amount of not to exceed $15,000,000, and the use of the proceeds of the Bonds to finance housing activities of the Agency is hereby approved. 111 Section 4. This Resolution shall take effect upon its adoption. PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula this 9th day of February, 2010. k at 1,/ Or Jeff Comerchero, Mayor ATTEST: /ila usan W. one., MMC City Cler [SEAL] R: /Resos 2010 /Resos 10 -11 1 ' STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, City Clerk of the City of Temecula, do hereby certify that the foregoing Resolution No. 10 -11 was duly and regularly adopted by the City Council of the City of Temecula at a meeting thereof held on the 9th day of February, 2010, by the following vote: AYES: 5 COUNCIL MEMBERS: Edwards, Naggar, Roberts, Washington, Comerchero NOES: 0 COUNCIL MEMBERS: None ABSENT: 0 COUNCIL MEMBERS: None ABSTAIN: 0 COUNCIL MEMBERS: None I i NIF ' Jon, MMC City es Clerk 1 R: /Resos 2010 /Resos 10 -11 2