HomeMy WebLinkAboutRA 2010- 001RESOLUTION NO RA 2010-001
am RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF
ATASCADERO, APPROVING THE FORM AND AUTHORIZING
EXECUTION OF A REIMBURSEMENT AGREEMENT AND
APPROVING RELATED DOCUMENTS AND OFFICIAL ACTIONS
WHEREAS, the Community Redevelopment Agency of Atascadero (the "Agency" is a
public body, corporate and politic, duly established and authorized to transact business and
exercise powers under and pursuant to the provisions of the Community Redevelopment Law of
the State of California, constituting Part 1 of Division 24 of the California Health and Safety
Code (the "Law"), including the power to issue bonds for any of its corporate purposes,
WHEREAS, a redevelopment plan for the Atascadero Redevelopment Project in the City
of Atascadero, California (the "Redevelopment Project"), has been adopted in compliance with
all requirements of the Law;
WHEREAS, the City of Atascadero (the "City"), working together with the Atascadero
Public Financing Authority (the "Authority"), proposes to undertake the financing of
improvements to the City's historic city hall and the acquisition and development of other capital
improvements throughout the geographic boundaries of the City (the "Project"),
WHEREAS, for such purposes, the Authority has determined to issue its Atascadero
Public Financing Authority Lease Revenue Bonds, 2010 Series A, in an amount not to exceed
$18,000,000 (the "Bonds"),
WHEREAS, the Bonds will be issued under the provisions of Article 4 (commencing
with section 6584) of the Act (the "Bond Law") and an indenture of trust (the "Indenture"), by
and between the Authority and The Bank of New York Mellon Trust Company, N.A., as trustee,
WHEREAS, in order to provide for the repayment of the Bonds, the Authority will lease
certain real property and improvements (the "Property") to the City pursuant to a lease
agreement (the "Lease Agreement") under which the City will agree to make lease payments to
the Authority from moneys in its General Fund and the City will budget and appropriate
sufficient amounts in each year to pay the full amount of principal of and interest on the Bonds,
and
WHEREAS, the Agency wishes at this time to provide for the reimbursement to the City
of amounts paid from its General Fund from tax increment revenues available to the Agency;
NOW, THEREFORE, BE IT RESOLVED, by the Community Redevelopment Agency
of Atascadero as follows
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Community Redevelopment Agency of Atascadero
Resolution No RA 2010-001
Page 2 of 3
SECTION 1 Approval of Reimbursement Agreement. The Agency hereby approves a
err reimbursement agreement, by and between the City and the Agency, pursuant to which the
Agency will agree to reimburse the City for the payments to be made by the City under the Lease
Agreement, in the form on file with the Secretary, together with any changes therein or additions
thereto deemed advisable by the Chairman, the Executive Director or the Treasurer, whose
execution thereof shall be conclusive evidence of the approval of any such changes or additions
The Chairman, the Executive Director or the Treasurer is hereby authorized and directed for and
in the name and on behalf of the Agency to execute, and the Secretary is hereby authorized and
directed to attest to, the final form of the foregoing document.
SECTION 2 Official Actions. The Chairman, the Vice Chairman, the Executive
Director, the Treasurer and the Secretary of the Agency, and any and all other officers of the
Agency, are hereby authorized and directed, for and in the name and on behalf of the Agency, to
do any and all things and take any and all actions, including execution and delivery of any and
all assignments, certificates, requisitions, agreements, notices, consents, instruments of
conveyance, warrants and other documents which they, or any of them, may deem necessary or
advisable as described herein. Whenever in this resolution any officer of the Agency is
authorized to execute or countersign any document or take any action, such execution,
countersigning or action may be taken on behalf of such officer by any person designated by
such officer to act on his or her behalf in the case such officer shall be absent or unavailable
SECTION 3 Effective Date This Resolution shall take effect immediately
On motion by Board Member Fonzi and seconded by Board Member Beraud, the
foregoing Resolution is hereby adopted in its entirety on the following roll call vote
AYES Board Members Beraud, Clay, Fonzi, O'Malley and Chairperson Kelley
NOES None
ABSENT None
ADOPTED July 27, 2010
0
Community Redevelopment Agency of Atascadero
Resolution No RA 2010-001
Page 3 of 3
COMMUNITY REDEVELOPMENT
AGENCY OF ATASCADERO
Byy7�`L�
Bob Kelley, 6airperson
ATTEST
Marcia McClure Torgerson, C.M.0
Agency Secretary
APPROVED AS TO FORM
Brian A. Pierik, Agency Counsel