HomeMy WebLinkAbout09-12 RDA Resolution1
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RESOLUTION NO. RDA 09 -12
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF TEMECULA DESIGNATING CONSULTANTS IN
CONNECTION WITH THE PROPOSED ISSUANCE OF TAX
ALLOCATION HOUSING BONDS AND AUTHORIZING AND
DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE
CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. In connection with housing activities of the Redevelopment Agency of
the City of Temecula (the "Agency related to its Temecula Redevelopment Project No.
1 (the "Redevelopment Project the Agency has entered into various agreements
obligating it to provide funds to assist in the development of housing for persons and
families of low and moderate income, and the Agency expects that it will enter into
additional agreements to provide monetary assistance to other developers of such
housing.
Section 2. In order to finance its housing activities, the Agency is considering the
issuance of tax allocation housing bonds (the "Bonds the principal of and interest on
which will be payable from tax increment revenues received by the Agency from the
Redevelopment Project that are required by the California Redevelopment Law to be
used to increase, improve and preserve the supply of low and moderate income
housing.
Section 3. Officers and officials of the Agency are hereby authorized to proceed
with the preparation of documents necessary to provide for the issuance and sale of the
Bonds. All such documents to which the Agency will be a party shall be subject to the
final approval thereof by the Board of Directors of the Agency at a subsequent meeting
of the Board of Directors.
Section 4. Fieldman, Rolapp Associates is hereby designated as financial
advisor to the Agency, Quint Thimmig LLP is hereby designated as bond counsel to
the Agency, and McFarlin Anderson LLP is hereby designated as disclosure counsel
to the Agency, each in connection with the issuance and sale of the Bonds. The
Executive Director is hereby authorized and directed to execute agreements with such
firms for their services with respect to the Bonds, in forms acceptable to the Executive
Director and Agency Counsel; provided that any and all compensation payable to such
firms shall be contingent upon the sale and issuance of the Bonds.
Section 5. Stone Youngberg LLC, is hereby designated as underwriter to the
Agency in connection with the issuance and sale of the Bonds.
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Section 6. The Chairperson, the Vice Chairperson, the Executive Director, the
Treasurer, Agency Counsel, the Secretary and all other appropriate officials of the
Agency are hereby authorized and directed to execute such other agreements,
documents and certificates as may be necessary to effect the purposes of this
Resolution and the financing herein authorized.
ATTEST:
usan W
City Cler
[SEAL]
Section 7. This Resolution shall take effect upon its adoption.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula
Redevelopment Agency of the City of Temecula this 8 day of December, 2009.
Jon
Boa
s, MMC
Secretary
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Ron R
erts,Chairperson
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STATE OF CALIFORNI
COUNTY OF RIVERSIDE
CITY OF TEMECULA
ss
I, Susan W. Jones, MMC, City Clerk/Board Secretary of the Temecula
Redevelopment Agency of the City of Temecula, do hereby certify that the foregoing
Resolution No. RDA 09 -10 was duly and regularly adopted by the Board of Directors of
the Temecula Redevelopment Agency of the City of Temecula at a meeting thereof held
on the 8 day of December, 2009, by the following vote:
AYES: 4 BOARD MEMBERS: Comerchero, Edwards, Washington,
Roberts
NOES: 0 BOARD MEMBERS: None
ABSENT: 1 BOARD MEMBERS: Naggar
ABSTAIN: 0 BOARD MEMBERS: None
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usan W. ones, MMC
City Clerk/Bo rd Secretary