HomeMy WebLinkAboutRedevelopment Agency - 104 RESOLUTION- NO. 104
A RESOLUTION OF THE REDEVELOPMENT
AGENCY OF THE CITY OF HUNTINGTON BEACH
AUTHORIZING THE ISSUANCE OF BONDS IN AN
AMOUNT NOT TO EXCEED $5 MILLION
FOR THE PURPOSE OF PROVIDING FINANCING
FOR DEVELOPMENT AND CONSTRUCTION OF
RETAIL COMMERCIAL SPACE, LOCATED NEAR
THE INTERSECTION OF LAKE AND ATLANTA
STREETS, BY BWC/VANDERWOOD COMPANY
WHEREAS, the Huntington Beach Redevelopment Agency (the
"Agency") is authorized by Chapter 8 (commencing with Section 33750) of
Part 1, Division 24 of the California Health and Safety Code (the "Act") to
issue and sell its bonds for the purpose of providing financing for the
construction of commercial facilities located within redevelopment project
areas of the Agency;
BWC/Vanderwood Company (the "Developer") has requested the Agency
to issue and sell its bonds for the purpose of providing financing for certain
retail facilities to be constructed and developed by the Developer within the
redevelopment project area of the Agency and the Agency wishes to induce
the Developer to construct and develop said commercial facilities in said
area; and
It is in the public interest, for public benefit and in furtherance of the
public purposes of the Agency that the Agency authorize bonds for the
aforesaid purposes;
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency
of the City of Huntington Beach as follows:
1. The Agency hereby authorizes the issuance and sale of bonds of
the Agency pursuant to the Act in a principal amount not to exceed five
million dollars ($5,000,000) for the purpose of providing financing to the :
Developer for the construction and development of approximately 27,000
square feet of retail commercial space, located near the intersection of
Lake and Atlanta Streets in the city of Huntington Beach.
1.
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2. The issuance and sale of said bonds shall be upon such
terms and conditions as may be mutually agreed upon by the Agency,
the Developer and the purchaser of said bonds, and shall be
authorized by resolution of the Agency 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 payments as may be required to accomplish
successfully the financing.
PASSED AND ADOPTED by the Redevelopment Agency of the City of
Huntington Beach at a regular meeting thereof held on the 21st
day of January 1985.
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Chairman
ATTEST: APPROVED AS TO FORM:
Ag,enCy Clerk Agency_Couns(e
APPROVED AS TO FORM: NITIATED AND APPROVED:
Special Agency , unse puty Director
�o Redevelopment
APPROVED :
Chief Executive Offic r
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huntington beach planning division
Res. No. inq
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH)
I , ALICIA M. WENTWORTH, Clerk of the Redevelopment Agency of the
City of Huntington Beach, California, DO HEREBY CERTIFY that the foregoing
resolution was duly adopted by the Redevelopment Agency of the City of
Huntington Beach at a meeting of said Redevelopment Agency held on the
21st day of January 19 85 , and that it was so adopted
by the following vote:
AYES: Members:
Kelly, Bailey, Finley, Green, Thomas
NOES: Members:
MacAllister
ABSENT: Members:
None
ABSTAIN: Mandic
Clerk of the Redevelopment Agency of
the City of Huntington Beach, Ca.