HomeMy WebLinkAboutReso 1979-9826
4316A
JHHW:ACH:ea 11/07/79
RESOLUTION NO. 9826
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CHULA VISTA APPROVING THE ISSUANCE OF
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA OF
RESIDENTIAL MORTGAGE REVENUE BONDS, ISSUE OF 1979
RESOLVED, by the City Council of the City of Chula Vista, San Diego
County, California, as follows:
WHEREAS, the Redevelopment Agency of the City of Chula Vista has
undertaken and is carrying out a redevelopment program in the City of Chula
Vista in accordance with the provisions of the California Community
Redevelopment Law;
WHEREAS, by the enactment of Chapter 8 of Part 1, commencing 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, lm'J-interest loans to finance residential construction in
redeve 1 opment proj ect areas in order to encourage investment and upgrade such
area, and to use bonds for the purpose of financing such residential
construction (a "Residential Mortgage Financing Program:);
WHEREAS, the Redevelopment Agency of the City of Chula Vista has
determined to implement a Residential Mortgage Financing Program and to
provide for the issuance of Residential Mortgage Revenue Bonds, Issue of 1979,
the proceeds of which are to be used to carry out such Program; 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 Chula Vista.prior to
issuance of such Bonds;
NOW, THEREFORE, IT IS HEREBY ORDERED by the City Council of the City of
Chula Vista that the Redevelopment Agency of the City of Chula Vista is hereby
given approval to issue said Residential Mortgage Revenue Bonds, Issue of
1979, in a principal amount $26,300,000.
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I hereby certify that the foregoing is a full, true and correct copy of
a resolution duly passed and adopted at an regular meeting of the City Council
of the City of Chula Vista on the 6th day of November, 1979, by the following
vote:
AYES: Councilmembers: Mayor Hyde, Councilwoman McCandliss, Councilmen
Scott, Gillow, Cox
NOES: Councilmembers: None
ABSENT, Councilmembers: None
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Mayor
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11/6/79
NOTE: See Redevelopment Agency Resolutions #214 and 215 for background
information.
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