HomeMy WebLinkAbout07-081 CC Resolution
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RESOLUTION NO. 07-81
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 BONDS
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1. The Redevelopment Agency of the City of T emecula (the "Agency")
has detennined at this time to issue its Redevelopment Agency of the City of Temecula
Temecula Redevelopment Project No.1 2007 Tax Allocation Bonds (Subordinate Lien)
(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.
Section 3. The issuance and sale of the Bonds by the Agency in the
aggregate principal amount of not to exceed $17,500,000, 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 25th day of September, 2007.
ATTEST:
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[SEAL]
R:/Resos 2007/Resos 07-81
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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. 07-81 was duly and regularly adopted by the City Council of
the City of Temecula at a meeting thereof held on the 25th day of September, 2007, by the
following vote:
AYES: 5
COUNCIL MEMBERS:
NOES: 0
COUNCIL MEMBERS:
ABSENT: 0
COUNCIL MEMBERS:
ABSTAIN: 0
COUNCIL MEMBERS:
Comerchero, Edwards, Naggar, Roberts,
Washington
None
None
None
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Susan W. Jones, MMC
City Clerk