HomeMy WebLinkAboutCC Res 3351 1984-02-13
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RESOLUTION NUMBER ;J~~/
A RESOLUTION OF THE ~ITY COUNCIL OF THE CITY OF
SEAL BEACH APPROVING THE ISSUANCE BY THE REDEVELOPMENT
AGENCY OF THE CITY OF SEAL BEACH OF SINGLE FAMILY
MORTGAGE REVENUE BONDS, ISSUE OF 1984 AND SINGLE
FAMILY SUBORDINATED MORTGAGE REVENUE BONDS IN THE
PRINCIPAL AMOUNT OF NOT TO EXCEED $17,000,000
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS, the Redevelopment Agency of the City of Seal Beach has
undertaken and is carryin~ out a redevelopment program
in the City of Seal Beach in accordance with the provisions
of the California Community Redevelopment Law; and
WHEREAS, by the enactment of Chapter 8 (commencing with Section
33750) of Part 1 of Division 24 of the Health and Safety
Code of the State of California, the legislature of the
State has authorized redevelopment agencies to issue
revenue bonds for the purpose of purchasing Mortgage
Loans relating to construction within redevelopment project
areas; and
WHEREAS, the Redevelopment Agency of the City of Seal Beach has
determined to implement a residential financing program
to provide for the issuance of single family mortgage
revenue bonds of the Redevelopment Agency of the City
of Seal Beach, the proceeds of which are to be used to
carry out such program; and
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WHEREAS. to that end, the Agency did by Resolution No.
adopted February . 1984, authorize the issuance of
not to exceed $17:000,000 principal amount of Single
Family Mortgage Revenue Bonds. Issue of 1984 and Single
Family Subordinated Mortgage Revenue Bonds; and
WHEREAS, Section 33640 of the Health and Safety Code requires
the Agency to obtain the approval of the City Council
of the City of Seal Beach, prior to issuance of the Bonds
authorized pursuant to the foregoing described Indenture.
NOW. THEREFORE. IT IS HEREBY ORDERED by the City Council of the
City of Seal Beach that the Redevelopment Agency of the City of
Seal Beach 1S hereby given approval to issue, sell and deliver
said Single Family Mortgage Revenue Bonds, Issue of 1984 and Single
Family Subordinated Mortgage Revenue Bonds, in a principal amount
of not to exceed $17,000,000.
PASSED, 'APPROVED AND ADOPTED by the City Council 3/ the Cit~f
Seal Beach at a meeting thereof held on the /~- day of .;t,kA',..Al '
1984, by the following vote ~
AYES: Councilmembers
NOES: Councilmembers
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ABSENT: Councilmembers
()Onh' frh UJ
Ci Clerk
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ATTEST:
Resolution Number ~~
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
I, Joanne M. Yeo. City Clerk of the City of Seal Beach. California.
do hereby certify that the fo;rjOing resolution is the original
copy of Resolution Number ~~ on file in the office of the City
Clerk, passed. approved and adopted by the City Council of the J~
City of S 1 Beach at a regular meeting thereof held on the J~~
day of 1984.
I
Oity Clerk
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