HomeMy WebLinkAbout91-091 CC ResolutionRESOLUTION NO. 91-91
A RESOLUTION OF THE CITY OF TEMECULA
APPROVING AN EXPENDITURE FROM THE
REDEVELOPMENT REVOLVING FUND FOR THE
ACQUISITION BY THE REDEVELOPMENT AGENCY OF
THE CITY OF TEMECULA OF CERTAIN PROPERTY
GENERALLY KNOWN AS MARGARITA CANYON
WHEREAS, the Redevelopment Agency of the City of Temecula ("Agency") desires to
purchase from Bedford Properties ("Seller") the certain real property generally known as
Margarita Canyon, which is located southwest of Front Street and west of Interstate 15,
comprising 92 acres; and
WHEREAS, a Redevelopment Revolving Fund was established pursuant to an agreement
entitled "Agreement Regarding Redevelopment Agency Administrative Fund and Redevelopment
Revolving Fund" between the City of Temecula and the Temecula Redevelopment Agency,
adopted on August 27, 1991, in accordance with Health and Safety Code Section 3622; and
WHEREAS, expenditures of monies from the Redevelopment Revolving Fund may be
approved by resolution of the City by a majority vote for the acquisition of real property in any
project area pursuant to Health and Safety Code Section 33622;
NOW, THEREFORE, THE CITY OF TEMECULA DOES HEREBY RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
Section 1. That an expenditure in the amount of $100,000 from the Redevelopment
Revolving Fund is hereby approved and allocated to the Redevelopment Agency of the City of
Temecula for the acquisition of certain real property generally known as Margarita Canyon.
Section 2. The City Clerk shall certify the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED, this 10th day of September, 1991.
Ronald J. Parks, Mayor
ATTEST:
k, City Clerk
[SEAL]
Resos 91-91 -1-
STATE OF CALIFORNIA)
COUNTY OF RIVERSIDE) SS
CITY OF TEMECULA)
I June S. Greek, City Clerk of the City of Temecula, HEREBY DO CERTIFY that the
foregoing Resolution No. 91-91 was duly adopted at a regular meeting of the City Council of the
City of Temecula on the 10th day of September, 1991, by the following roll call vote:
AYES: 5
COUNCILMEMBERS:
Birdsall, Lindemans, Moore, Mufioz,
Parks
NOES:
0 COUNCILMEMBERS: None
ABSENT: 0 COUNCILMEMBERS: None
City Clerk