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HomeMy WebLinkAboutRES CC 1993 935 1993 04211_ RESOLUTION NO. 93- 935 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, DETERMINING THAT THE ISSUANCE AND SALE OF TAX ALLOCATION BONDS BY THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK IS OF BENEFIT TO THE CITY OF MOORPARK; APPROVING THE ISSUANCE AND SALE OF SUCH BONDS AND RATIFYING ACTIONS TAKEN IN RELATION THERETO. WHEREAS, the Redevelopment Agency of the City of Moorpark (the "Agency "), is a redevelopment agency and public body, corporate and politic, duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000 of the California Health and Safety Code) (the "Redevelopment Law"), and the powers of the Agency include the power to issue bonds for any of its corporate purposes; and WHEREAS, a redevelopment plan for a redevelopment project known and designated as the "Moorpark Redevelopment Project" has been passed and adopted by Ordinance No. 110 of the City of Moorpark, California (the "City "), on July 5, 1989 (the 'Redevelopment Plan "), and all requirements of law for and precedent to the adoption and approval of the Redevelopment Plan have been duly complied with; and WHEREAS, the Agency determined that the issuance of its bonds, designated "Moorpark Redevelopment Project, 1993 Tax Allocation Bonds," (the 'Bonds ") in the principal amount of $10,800,000, the proceeds of which will be used, together with interest earnings thereon, to finance a portion of the costs of implementing the Redevelopment Plan, to pay costs in connection with the issuance of the Bonds, to provide for a reserve fund and to make certain other deposits as required by an Indenture of Trust dated as of May 1, 1993 (the "Indenture "), by and between the Agency and First Interstate Bank of California, as trustee (the "Trustee "), is in the best interests of the Agency and is authorized by and in accordance with the Redevelopment Law and the Redevelopment Plan; and WHEREAS, the Agency duly adopted its Resolution No. 93- 17 on April 21, 1993, which provides for, inter alia, the authorization, issuance, sale and delivery of the Bonds, the preparation of the Official Statement and other documents pertaining to the issuance and sale of the Bonds; the execution of such documents by Agency officials; the payment of costs of issuing the Bonds; and the authorization of Bond Counsel, Disclosure Counsel, Financial Advisor and Underwriter (as defined therein) to take such actions as are necessary to accomplish the issuance, sale and delivery of the Bonds; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND DECLARE THAT: Section 1. The City hereby determines that the issuance and sale of the Bonds by the Agency is of benefit to the City and to the Redevelopment Plan and no other reasonable means of financing is available to the City or the Agency. Section 2. The City hereby approves, pursuant to Section 33640 of the Redevelopment Law, the issuance and sale of the Bonds by the Agency and ratifies the actions of the Agency taken in connection therewith, including the adoption by the Agency of Resolution No. 93- J 7 on April 21, 1993, and the actions of the Authority taken in connection with the purchase of the Bonds and the immediate resale to the Underwriter, including the adoption by the Authority of Resolution No. 93 -1'7 on April 21, 1993, which actions further the implementation of the Redevelopment Plan in accordance with the provisions thereof and the Redevelopment Law. Section 3. This Resolution shall take effect from and after its adoption by the City Council. APPROVED AND ADOPTED this 2 is t day of April, 1993. CITY OF MOORPARK, CALIFORNIA or ATTEST: c:\wn51NCC.R\48516.4.Issuance -2- I oil a 799 Moorpark Avenue Moorpark, California 93021 STATE OF CALIFORNIA ) COUNTY OF VENTURA ) ss. CITY OF MOORPARK ) (805) 529 -6864 I, Lillian E. Hare, City Clerk of the City of Moorpark, California, do hereby certify under penalty of perjury that the foregoing .Resolution No. 93 -935 was adopted by the City Council of the City of Moorpark at a meeting held on the 21st day of APRIL , 1993, and that the same was adopted by the following vote: AYES: COUNCILMEMBERS HUNTER, MONTGOMERY, PEREZ, WOZNIAK AND MAYOR LAWRASON NOES: NONE ABSENT: NONE ABSTAIN: NONE this WITNESS my hand and the official seal of said City 23rd day of APRIL , 1993. G 14"1 llian E. Hare City Clerk PAUL W. LAWRASON JR. SCOTT MONTGOMERY PATRICK HUNTER BERNARDO M. PEREZ JOHN E. WOZNIAK Mayor Mayor Pro Tem Councilmember Counalmember Counalmember Printed on Fe_yded Pz