HomeMy WebLinkAbout97-050 CC ResolutionRESOLUTION NO. 97-50
"A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TEMECULA TERMINATING THE OLD TOWN/WESTSIDE
IMPROVEMENT AUTHORITY AND THE OLD TOWN/WESTSIDE
COMMUNITY FACHJTIES DISTRICT FINANCING AUTHORITY'
wmgREAS, the City of Temecula (the "City") and the Redevelopment Agency of the City
of Temecula (the "Agency") are parties to the Old Town/Westside Improvement Authority Joint
Exercise of Powers Agreement (the "Improvement Authority Agreement") creating the Old
Town/Westside Improvement Authority (the "Improvement Authority"), and the Old
Town/Westside Community Facilities District Financing Authority Joint Exercise of Powers
Agreement (together with the Improvement Authority Agreement, the "Agreements") creating the
Old Town/Westside Community Facilities District Financing Authority (together with the
Improvement Authority, the "Authorities"); and
WHEREAS, the financing for which the Authorities were created has now been
abandoned, and the Authorities have not issued any Bonds (as defined in the Agreements), and
the City Council now desires to terminate the Agreements and the Authorities.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Temecula
as follows:
1. Termination of Agreement~ and Authorities. The Agreements and Authorities are
terminated, subject to adoption by the Agency of a resolution also terminating the Agreements and
Authorities.
2. Official Actions. The Mayor, City Manager, City Clerk and all other officers of
the City are hereby authorized and directed to take all actions and do all things necessary or
desirable hereunder with respect to the termination of the Agreements and the Authorities,
including but not limited to the execution and delivery of any and all certificates or instruments
which they, or any of them, deem necessary or desirable and not inconsistent with the purposes
of this Resolution.
Reaoa/97-50 I
PASSED, APPROVED AND ADOPTED, by the City Council of the City of Temecula,
at a regular meeting held on the 27th day of May 1997.
Patricia H. Birdsall, Mayor
ATTEST:
City Clerk
[SEAL]
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, June S. Greek, City Clerk of the City of Temecula, California, do hereby certify that
the foregoing Resolution No. 97-50 was duly and regularly adopted by the City Council of the
City of Temecula on the 27th day of May 1997, by the following vote:
AYES: 4 COUNCILMEMBERS: Ford, Lindemans, Roberts,
Birdsall
NOES:
0 COUNCILMEMBERS: None
ABSENT:
0 COUNCILMEMBERS: None
ABSTAINED: 1
COUNCILMEMBERS: Stone
City Clerk
R¢~os/97-50 2