HomeMy WebLinkAboutCVRC Reso 2006-026
CVRC RESOLUTION NO. 2006-026
RESOLUTION OF THE CHULA VISTA REDEVELOPMENT
CORPORATION RECOMMENDING THE ISSUANCE BY THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
OF TAX ALLOCATION REFUNDING BONDS, IN TWO OR
MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF
NOT TO EXCEED $28,500,000 (BA YFRONT/TOWN CENTRE)
WHEREAS, the Redevelopment Agency of the City of Chula Vista (the "Agency") has
determined at this time to issue its not to exceed $28,500,000 aggregate initial principal amount
of tax allocation bonds, in up to three series, consisting of (a) the Redevelopment Agency of the
City of Chula Vista Bayfront/Town Centre Redevelopment Project 2006 Senior Tax Allocation
Refunding Bonds, Series A in the aggregate principal amount of not to exceed $14,500,000 (the
"Senior Bonds"), (b) the Redevelopment Agency of the City of Chula Vista Bayfront/Town
Centre Redevelopment Project 2006 Subordinate Tax Allocation Refunding Bonds, Series Band,
if necessary, Series C (the "Series B Bonds" and the "Series C Bonds") in the aggregate principal
amount of not to exceed $14,000,000 to provide funds to refinance the Agency's Bayfront/Town
Centre Redevelopment Project 1994 Senior Tax Allocation Refunding Bonds, Series A and D
and its Bayfront/Town Centre Redevelopment Project 1994 Subordinate Tax Allocation
Refunding Bonds, Series C and will consider on the date hereof its resolution (the "Agency
Resolution") providing for such issuance, a copy of which has been furnished to this Board; and
WHEREAS, the Senior Bonds, the Series B Bonds and Series C Bonds are referred to
herein as the "Bonds"); and
WHEREAS, the Board of Directors of the Chula Vista Redevelopment Corporation (the
"Corporation") wishes at this time to recommend to the Agency Board the issuance and sale of
the Bonds by the Agency.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by the
Board of Directors of the Chula Vista Redevelopment Corporation 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 $28,500,000 in accordance with the
Agency Resolution be and is hereby recommended to the governing board of the Agency.
Section 2. Official Actions. The Chief Executive Officer, Chief Financial Officer
and the Secretary, and any and all other officers of the Corporation, are hereby authorized and
directed, for and in the name and on behalf of the Corporation, to do any and all things and take
any and all actions, including execution and delivery of any and all certificates, agreements,
notices, consents, warrants and other documents which they, or any of them, may deem
necessary or advisable in order to assist the Agency with the lawful issuance and sale of the
Bonds, as described herein.
Section 3. Effective Date. The Secretary shall certify to the passage and adoption of
this Resolution, which shall take effect immediately upon its adoption.
CVRC Resolution No. 2006-026
Page 2
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PRESENTED BY
APPROVED AS TO FORM BY
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Ann oore
General Counsel
PASSED, APPROVED, and ADOPTED by the Chula Vista Redevelopment Corporation
of the City of Chula Vista, this 22nd day of June 2006, by the following vote:
AYES:
Directors: Desrochers, Lewis, McCann, Paul, Rindone, Rooney and
Padilla
NAYS:
Directors: None
ABSENT:
Directors: Chavez
ABSTAINED: Directors:
CMmne~
.. . ~ari/U-
Stephen C. Padilla, Chair
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ATTEST:
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
)
)
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Dana M. Smith, Secretary
I, Dana M. Smith, Secretary of the Chula Vista Redevelopment Corporation of the City of Chula
Vista, California, do hereby certify that the foregoing CVRC Resolution No. 2006-026 was duly
passed, approved, and adopted by the Chula Vista Redevelopment Corporation at a regular
meeting of the Chula Vista Redevelopment Corporation held on the 22nd day of June 2006.
Executed this 22nd day of June 2006.
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Dana M. Smith, Secretary
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