HomeMy WebLinkAboutReso 1980-10100
RESOLUTION NO. 10100
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CHULA VISTA AUTHORIZING THE ISSUANCE
OF BONDS FOR THE PURPOSE OF PROVIDING FINANCING
FOR THE CONSTRUCTION OF COMMERCIAL STRUCTURES
FOR PULLMAN INCORPORATED
RESOLVED, by the City Council of the City of Chula Vista, California, as
follows:
WHEREAS, the City of Chula Vista (the "City") is authorized by its cCity
Charter (the "Charter") and by the Community Redevelopment Law of the State of
California (the "Law") to issue and sell its bonds for the purpose of
providing financing for the construction of new commercial structures located
within redevelopment project areas of the Agency;
WHEREAS, Pullman Incorporated (the "Company") has requested the City to
issue and sell its bonds for the purpose of providing financing for certain
commercial facilities to be constructed and developed by the Company within
the Bayfront Redeve 1 opment Proj ect Area of the Redeve 1 opment Agency of the
City of Chula Vista (the "Agency") and the City Council wishes to induce the
Company to construct and develop said commercial facilities in said area; and
WHEREAS, it is in the public interest, for public benefit and in
furtherance of the public purposes of the City that the City Council authorize
bonds for the aforesaid purposes;
NOW, THEREFORE, it is hereby FOUND, DETERMINED AND ORDERED as follows:
1. The City Counci 1 of the City of Chula Vista hereby authorizes the
issuance and sale of bonds of the City pursuant to the Charter or the Law in a
principal amount of not to exceed Ten Million Dollars ($10,000,000) for
acquisition, construction and development of research and development
facilities and related commercial structures and auxiliary facilities,
equipment and property to be located on Bay Boulevard between J and L Streets
in the Bayfront Redevelopment Project Area of the Agency.
2. The issuance and sale of said bonds shall be upon such terms and
conditions as may be mutually agreed upon by the City, the Company and the
purchaser of said bonds, shall be subject to an opinion of bond counsel
approving the issuance of said bonds under the Charter, and shall be
authorized by resolution of the City Council adopted at a meeting duly held
and conducted for such purpose.
3. The proceeds of the bonds shall include such related and necessary
issuance expenses, administrative costs, debt service reserves and interest pay-
ments as ma required to accomplish successfully the financing.
~
George D. Lindberg, City Attorney
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, this 20th
191) 0 , by the following vote, to-wit:
day of
May
AYES:
NAYES:
ABSTAI N:
ABSENT:
Councilmen
Hyde, Gi11ow, Cox
Councilmen
McCand1iss, Scott
Councilmen
None
Councilmen
None
ATTEST
GU~ ~(~
Mayor of the City of Chula Vista
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO } s s.
CITY OF CHULA VISTA }
I, JANE A. DIEDRICHS, Deputy Ci ty Clerk of the City of Chula Vista, California,
DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 10100
, and that the same has not been amended or repealed.
DATED
( sea/)
Deputy City Clerk
JDI DO