HomeMy WebLinkAboutResolution 2004-090 RESOLUTION NO. 2004-090
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ATASCADERO, CALIFORNIA, APPROVING THE ISSUANCE AND SALE
BY THE ATASCADERO COMMUNITY REDEVELOPMENT AGENCY
OF TAX ALLOCATION BONDS TO FINANCE REDEVELOPMENT
ACTIVITIES WITHIN AND FOR THE BENEFIT OF THE AGENCY'S
ATASCADERO REDEVELOPMENT PROJECT
WHEREAS, a Redevelopment Plan for the Atascadero Redevelopment Project in the City
(the "Redevelopment Project"), has been adopted in compliance with all requirements of the
Law;
WHEREAS, the Atascadero Community Redevelopment Agency (the "Agency") has
determined that, due to prevailing financial market conditions, it is in the best interests of the
Agency at this time to finance redevelopment activities within and for the benefit of the
Redevelopment Project;
WHEREAS, to provide moneys for such purposes, the Agency has determined to issue its
Atascadero Community Redevelopment Agency (Atascadero Redevelopment Project), 2004 Tax
Allocation Bonds, in the aggregate principal amount of not-to-exceed $14,000,000 (the
"Bonds"), under the provisions of Part 1 of Division 24 of the California Health and Safety Code,
commencing with section 33640 of said Code; and
WHEREAS, in accordance with the requirements of section 33640 of the California
Health and Safety Code, the Council wishes at this time to approve the issuance and sale of the
Bonds by the Agency;
NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of Atascadero
SECTION 1. Approval of the Bonds. The issuance and sale of the Bonds by the Agency
to finance redevelopment activities within and for the benefit of the Redevelopment Project is
hereby approved.
SECTION 2. Effective Date. This Resolution shall take effect from and after the date of
its passage and adoption.
City of Atascadero
Resolution No.2004-090
Page 2 of 2
On motion by Council Member O'Malley and seconded by Council Member Scalise, the
foregoing Resolution is hereby adopted in its entirety on the following roll call vote:
AYES: Council Members Clay, O'Malley, Pacas, Scalise and Mayor Luna
NOES: None
ABSENT: None
ADOPTED: November 9, 2004
COF ATASC RO
By: 4-L -
/, Dr. Ge ge Luna,Mayor
ATTEST:
/R_x- 1 �`7
Marcia McClure Torgerson, C.M.C., Ci Clerk
APPROVED AS TO FORM:
Thomas R. Gibson, Interim City Attorney