HomeMy WebLinkAboutReso 1979-97631
RESOLUTION N0. 9763
A RESOLUTION OF THE CITY COUNCIL APPROVING THE ISSUANCE BY THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
OF CONSTRUCTION LOAN NOTES, IN A PRINCIPAL AMOUNT OF
$11,350,000
RESOLVED, by the City Council of the City of Chula Vista, San Diego
C unty, California, as follows: -
WHEREAS, the Redevelopment Agency of the City of Chula Vista has
u dertaken and is carrying out a redevelopment program in the City of Chula
V sta in accordance with the provisions of the California Community
R development Law;
WHEREAS, by the enactment of Chapter 8 of Part 1, commencing with
S ction 33750, of Division 24 of the Health and Safety Code of the State of
C lif ornia, the Legislature of the State has authorized redevelopment agencies
t make long-term, low-interest loans to finance residential construction in
r development project areas in order to encourage investment and upgrade such
a ea, and to use notes and bonds for the purpose of financing such residential
c nstruction (a "Residential Construction and Mortgage Financing Program");
WHEREAS, the Redevelopment Agency of the City of Chula Vista has
d termined to implement a Residential Construction and Mortgage Financing
P ogram and to provide for the issuance of Construction Loan Notes, the
p oceeds of which are to be used to implement such Program; and
WHEREAS, Section 33640 of the Health and Safety Code requires the Agency
t obtain the approval of the City Council of the City of Chula Vista prior to
i suance of such Construction Loan Notes;
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NOW, THEREFORE, IT IS HEREBY ORDERED by the City Council of the City of
ula Vista that the Redevelopment Agency of the City of Chula Vista is hereby
ven approval. to issue Construction Loan Notes, in a principal amount of
1,350,000.
ADOPTED AND APPROVED this 6th day of September, 1979.
~sented by,~' _ Approved as to for
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1 G: Des bchers, George D. indberg,
imun~ty Development Director Agency Attorney
CHULA
197 9
AYES:
NAYES
ABSEN'.
,~,
s ,
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
VISTA, CALIFORNIA this 6th day of September ,
~, by the following vote, to-wit:
Couno,Zmen Scott, Gillow, Cox, Hyde, McCandliss
Counci Zmen None
Counoi Zmen None
Mayor of the City of Chula i%ista
ATTE:
City CZer
STATE OF CALIFORNIA )
COUNT OF SAN DIEGO ) ss.
CITY F CHULA VISTA )
I, JENNIE Mo FULASZ, CMC, CITY CLERK of the City of ;GauZa ti~ista,
Calif rnia, DO HEREBY CERTZ'FY that the above and foregoing ~s a full,
true nd correct Dopy of RESOLUTION N0. 9763 and
that he same has net been amended or repeaZede
DATED
City CZer
(S'EAL ~
CC-660 ~j~j
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