HomeMy WebLinkAboutCC Res 3136 1982-02-25
.
..
I
I
8835B
JHHW:PNL:ea 02/24/82
RESOLUTION NO. .3/~to
A RESOLUTION APPROVING THE ISSUANCE BY THE
REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH OF
RESIDENTIAL MORTGAGE REVENI.lE BONDS, ISSUE OF 1982
IN A PRINCIPAL AMOUNT $18,200,000
RESOLVED, by the City Council of the City of Seal Beach, Orange County,
California, as follows:
WHEREAS, the Redevelopment Agency of the City of Seal Beach has
undertaken and is carrying out a redevelopment program in the City of Seal
Beach in accordance with the provisions of the California COlll11unity
Redevelopment Law;
WHEREAS, by the enactment of the Redevelopment Construction loans Act
(the "Act") (Chapter 8 of Part 17, cOlll11encing with Section 33750, of Division
24 of the Health and Safety Code of the State of California), the legislature
of the State has authorized redevelopment agencies to make long-term,
low-interest loans to finance residential construction in redevelopment
project areas in order to encourage investment and upgrade such areas, and to
issue bonds for the purpose of financing such residential construction;
WHEREAS, the Redevelopment Agency of the City of Seal Beach has
determined to implement a residential construction financing program to
provide for the issuance of Residential Mortgage Revenue Bonds of the
Redevelopment Agency of the City of Seal Beach, Issue of 1982, the proceeds of
which are to be used to carry out such program;
WHEREAS, to that end, the Agency did, on February 25, 1982, adopt
Resolution No.~-', A Resolution of the Redevelopment Agency of the City of
Seal Beach Authorizing the Issuance of Residential Mortgage Revenue Bonds,
Issue of 1982; 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 authori zed pursuant to the foregoi ng descri bed
Resolution;
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 is hereby
given approval to issue said Resi denti a 1 Mortgage Revenue Bonds, Issue of
1982, in a principal amount $18,200,000.
* * * * * * * * * *
-
Resolution Number
.
-
I hereby certify that the foregoing is a full, true and correct copy of
a resolution duly passed and adopted at a regularly held meeting of the City
Council of the City of Seal Beach on the 25th day of February, 1982, by the
following vote:
AYES, and in'favor thereof, counCi1memberS~~~, _~/
NOES, counCi1members:~ 'o;(LZa4. l/ J
ABSENT. C,"",ll."b""~ od. I
-~~~~
I
APPROVED AS TO FDtlM:
~tll~ City Attorney
I