HomeMy WebLinkAboutReso 2006-200
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RESOLUTION NO 2006-200
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING 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 has adopted its resolution (the "Agency Resolution") providing
forsuchissuffilce; and
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WHEREAS, the Senior Bonds, the Series B Bonds and Series C Bonds are referred to
herein as the "Bonds"); 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 appr~ve the issuance and sale of
the Bonds by the Agency
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by the
City Council of the City of Chula Vista as follows.
Section I 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 approved.
Section 2. Effective Date. The City'Clerk shall certify to the passage ffild adoption of
this Resolution, which shall take effect immediately upon its adoption.
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Section 3 Official Actions. The City Mffilager ffild the City Clerk, and any ffild all
other officers of the City of Chula Vista, are hereby authorized and directed, for and in the name
ffild on behalf of the City of Chula Vista, to do ffilY and all things ffild take ffilY and all actions,
including execution and delivery of any and all assignments, certificates, requisitions,
agreements, notices, consents, instruments of conveyance, warrffilts and other documents which
they, or any of them, may deem necessary or advisable in order to consummate the lawful
issuance ffild sale of the Bonds, as described herein. Specifically and without limiting the
preceding sentence, the City Manager may evidence the subordination of ffilY right of the City to
payments purSUffilt to the Tax Sharing Statutes (Cal. Health ffild Safety CoLle Section 33607.5,
33607 7) to the pledge of Tax Revenues to the Bonds and any Parity Debt.
Resolution No. 2006-200
Page 2
Presented by
Approved as to form by
~\.v:~J\\'\~.
Ann Moore
City Attorney
Maria - achadoorian
Finane Director
PASSED, APPROVED. and ADOPTED by the City Council of the City of Chula Vista,
this 22nd day of June 2006, by the following vote:
AYES.
Councilmembers: Chavez, McCann, Rindone, and Padilla
NAYS
Councilmembers: None
ABSENT.
Councilmembers: None
ABSTAIN
Councilmembers: Castaneda
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ATTEST
J~MP-- j;~
t Susan Bigelow, ~MC, ~ity Clerk
< STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
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L Susan Bigelow, City Clerk of Chula Vista, California, do hereby certifY that the foregoing
Resolution No. 2006-200 was duly passed, approved, ,and adopted by the City Council at an
adjourned regular meeting of the Chula Vista City Council held on the 22nd day of June 2006.
Executed this nnd day of June 2006.
I/~ ,;Vc;~
r Susan Bigelow, MMC, City Clerk
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