HomeMy WebLinkAboutAGENDA REPORT 2001 1117 CC SPC ITEM 04AMOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
ITEM Y• A
CFTC' OF M00RP kRK, C,A LIFOWNIA
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ACTION: _ A
BY: -e �
FROM: Hugh R. Riley, Assistant City Manager`
DATE: November 7, 2001 (Special CC Meeting of 11/13/0
SUBJECT: Consider Approval by the City of Moorpark of
Resolution No. 2001- Approving the Issuance by
the Redevelopment Agency of Moorpark (the "Agency ") of
its 2001 Tax Allocation Bonds.
BACKGROUND
In order to facilitate the development of the Moorpark Civic
Facilities improvement, it is necessary that the Agency issue
Tax Allocation Bonds in a sufficient amount to net $10,000,000.
DISCUSSION
Pursuant to Section 33640 of the California Community
Redevelopment Law (CCRL; Health and Safety Code, Section 33000,
et seq.)the issuer's (the redevelopment agency) legislative body
(The City Council) must approve the issuance of redevelopment
agency bonds.
STAFF RECOMMENDATION
Adopt Resolution No. 2001 - Approving the Redevelopment
Agency of the City of Moorpark 2001 Tax Allocation Bonds.
Attachment: Resolution No. 2001-
RESOLUTION NO. 2001-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, APPROVING THE ISSUANCE BY
THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK
OF 2001 TAX ALLOCATION BONDS
WHEREAS, the Redevelopment Agency of the City of Moorpark
(the "Agency ") has determined at this time to issue its not to
exceed $12,500,000 aggregate initial principal amount of
Redevelopment Agency of the City of Moorpark Moorpark
Redevelopment Project, 2001 Tax Allocation Bonds (the "Bonds ")
to provide funds to finance redevelopment projects of the Agency
within or of benefit to the Agency's Moorpark Redevelopment
Project; and
WHEREAS, 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.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1 Approval of the Bonds. The issuance and sale of
the Bonds by the Agency in the aggregate principal amount of not
to exceed $12,500,000 and is hereby approved.
SECTION 2 . The City Clerk shall certify to the adoption of
this resolution, which shall take effect immediately upon its
adoption, and shall cause a certified resolution to be filed in
the book of original Resolutions.
PASSED AND ADOPTED this day of ,
Patrick Hunter, Mayor
ATTEST:
Deborah S. Traffenstedt, City Clerk