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HomeMy WebLinkAboutRedevelopment Agency - 106 RESOLUTION.NO. 106 A RESOLUTION OF THE HUNTINGTON BEACH REDEVELOPMENT AGENCY AUTHORIZING THE SALE AND DELIVERY OF CERTIFICATES OF PARTICIPATION OR ISSUANCE OF BONDS IN AN AMOUNT NOT TO EXCEED $10 MILLION IN CONNECTION WITH THE TOWN SQUARE SUBAREA PROJECT WHEREAS, the Huntington Beach Redevelopment Agency, as an inducement to the "Developer" who will undertake the development of a commercial/office development consistent with the Main Pier Redevelopment Plan, the "Project," desires to authorize the sale and delivery of certificates of participation or the issuance and sale of bonds in an amount sufficient to provide financing for the project subject to the.restrictions of all applicable State and Federal laws as they presently exist. NOW, THEREFORE, the Huntington Beach Redevelopment Agency does hereby resolve as follows: Section 1. Subject to the completion of proceedings and other matters relating thereto, to the full satisfaction of the Agency, the Agency hereby agrees to provide financial assistance to the "Project" for the purpose of assisting in the development of the Project located within the Town Square Subarea. The Agency reserves the option of providing such assistance through other methods acceptable to the Agency. The total principal amount of the proposed certificates or bonds shall not exceed ten million dollars ($10,000,000). Section 2. Based on the foregoing, it is understood that the availability of such assistance is a substantial inducement to the Developer to undertake such project in a manner desired by the Agency. Section 3. The Executive Director and the staff are hereby authorized and directed to take whatever further action relating to the aforesaid financial assistance as deemed reasonable and desirable in accordance with the laws of the State of California and within the limitations of any applicable laws of the United States of America; provided, however, that any agreements and the terms and conditions under which the certificates will be sold and delivered (or bonds will be issued and sold) must be approved by the Agency. PASSED AND ADOPTED by the Redevelopment Agency of the City of Huntington Beach this 21st day of January , 1985. ATTEST: City Clerk/Agency Clerk Mayor/Chairperso 0606h/0605h r APPROVED AS TO CONTENT: APPROVED AS TO CONTENT: City Attorney Agency ou el Special Agency C 6nsel INITIATED AND APPROVED: Dep irector of Redevelopment APPROVED: Ti dministrator/ hief Exe utive ' Officer 0604h c- 115 lo `� -- 112 � 3 ' 1 109 „ 107 j ✓� 110 r--r m 106 / 113 108 w 104 114 �\ .....m 117 i 116 \�\ Adit"X hunfin ten beach planning division Res. No. 106 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, MacAllister, Mandic, Bailey, Finley, Green, Thomas NOES: Members: None ABSENT: Members: None Clerk of the Redevelopment Agency of the City of Huntington Beach, Ca. I