HomeMy WebLinkAbout06-100 CC Resolution
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RESOLUTION NO. 06-100
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA APPROVING THE ISSUANCE BY THE
REDEVELOPMENT AGENCY OF THE CITY OF
TEMECULA OF TWO SERIES OF TAX ALLOCATION
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 2006 Tax Allocation Bonds, Series A and its
Redevelopment Agency of the City of Temecula Temecula Redevelopment Project No.
1 2006 Tax Allocation Bonds, Series B (Subordinate Lien) (collectively, the "Bonds") to
provide funds to finance redevelopment activities of the Agency within or of benefit to
the Agency's Temecula Redevelopment Project No.1.
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.
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Section 3. The issuance and sale of the Bonds by the Agency in the
aggregate principal amount of not to exceed $35,000,000, and the use of the proceeds
of the Bonds to finance redevelopment activities of the Agency within or of benefit to the
Agency's Temecula Redevelopment Project No.1, is hereby approved.
Section 4. This Resolution shall take effect upon its adoption.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Temecula this 14th day of November, 2006.
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Ron Roberts, Mayor
ATTEST:
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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. 06-100 was duly and regularly adopted by the City Council of
the City of Temecula at a meeting thereof held on the 14th day of November, 2006, by the
following vote:
AYES: 5
COUNCIL MEMBERS:
Comerchero, Edwards, Naggar,
Washington, Roberts
NOES: 0
COUNCIL MEMBERS:
None
ABSENT: 0
COUNCIL MEMBERS:
None
ABSTAIN: 0
COUNCIL MEMBERS:
None
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Susa W. Jones, MMC
City Clerk