2004-15 RESOLUTION NO. 2004- 15
A RESOLUTION OF THE CITY OF GRAND TERRACE, CALIFORNIA,
APPROVING THE SALE OF TAX ALLOCATION BONDS
WHEREAS, the Community Redevelopment Agency of the City of Grand
Terrace (the "Agency") is an Agency duly created, established and authorized to
transact business and exercise its powers, all under and pursuant to the Community
Redevelopment Law (Part I of Division 24 (commencing with Section 33000) of the
Health and Safety Code of the State of California) and the powers of the Agency
include the power to issue bonds for any of its corporate purposes; and
WHEREAS, a Redevelopment Plan known as the "Community Redevelopment
Agency of the City of Grand Terrace, Grand Terrace Redevelopment Project" has been
adopted and approved by Ordinance No. 17 of the Community Redevelopment Agency
of the City of Grand Terrace (the "Agency"), adopted on April 19, 1979 as amended by
Ordinance No. 52 adopted on July 15, 1981 and Ordinance No. 207 adopted on
September 12, 2002, and all requirements of law for and precedent to the adoption and
approval of said Redevelopment Plan have been duly complied with; and
WHEREAS, the Agency has adopted its Resolution entitled:
"A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF GRAND TERRACE APPROVING THE FORMS OF AND
AUTHORIZING THE EXECUTION OF AN INDENTURE OF TRUST,A BOND
PURCHASE CONTRACT, CONTINUING DISCLOSURE AGREEMENT AND AN
OFFICIAL STATEMENT RELATING TO THE ISSUANCE OF 'THE AGENCY'S .
TAX ALLOCATION BONDS AND APPROVING CERTAIN ACTIONS IN
CONNECTION THEREWITH"
and
WHEREAS, under and pursuant to the above Resolution, the Agency has
authorized the issuance and sale of Not to Exceed $16,000,000 Grand Terrace
Redevelopment Project Refunding Tax Allocation Bonds Series 2004A, Series 2004B
and Series 2004C, (the "Bonds").
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Grand
Terrace at a regular meeting held on July 22 , 2004.
Section 1. Approval of Issuance of Bonds. The issuance of a principal amount
Not to Exceed $16,000,000 of Community Redevelopment Agency of the City of Grand
Terrace Refunding Tax Allocation Bonds, Series 2004A, 2004B and 2004C in order to
r' fund certain redevelopment projects of the Agency is hereby authorized and approved
pursuant to Health and Safety Code Section 33640.
I
Section 2. Effective Date. This Resolution shall take effect upon adoption.
PASSED AND APPROVED by the City Council of the of the City of Grand
Terrace at a regular meeting held on the 22 day of July 2004.
Mayor r v V ly
ATTEST:
City Clerk l/
I, Brenda Stanfill, City Clerk for the City of Grand Terrace do hereby certify that
the foregoing Resolution was regularly introduced and adopted by the City Council at a
meeting thereof held on the22 day of July 2004, by the following vote:
AYES. Councilmembers Garcia, Larkin and Cortes; Mayor Pro Tem Ferre and
Mayor Hilkey
NOES: None
ABSENT: None
ABSTAIN: None
IN WITNESS WHEREOF, I have set my hand and affixed the official seal of the
City of Grand Terrace, California, this 22 day of July, 2004.
City Clerk