HomeMy WebLinkAboutRedevelopment Agency - 114 RESOLUTION NO., 114
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-
HUNTINGTON-LAKE 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 Huntington-Lake 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 21stday of January , 1985.
ATTEST:
City Clerk/Agency Clerk _ yor/ a' 04ers
0606h/0605h
APPROVED AS TO CONTENT: APPROVED AS TO CONTENT:
City Attorney/Age y Counse Special A cy Co el
INITIATED AND APPROVED:
Depu irector of Redevelopment
APPROVED:
City Administrator/Chief E ecutive
Officer
0604h
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huntingt®n beach planning division
Res. No. 114
FjSTATE 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.