HomeMy WebLinkAboutRedevelopment Agency - 115 RESOLUTION NO. 115
D
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 CENTER 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 Huntington Center 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 Center Redevelopment Program Area. 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/Chairperson
0606h/0605h
APPROVED AS TO CONTENT: APPROVED AS TO CONTENT:
} City Attorney/AXency Co el Special Agency Counsel
INITIATED AND APPROVED:
D u Director of Redevelopment
APPROVED:
City Administrator/Chief Exe utive
Of f icer
0604h
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huntington beach planning division
Res. No. 115
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, Bailey, Finley, -Green, Thomas
NOES: Members:
Mandic
ABSENT: Members:
None
Clerk of the Redevelopment Agency of
the City of Huntington Beach, Ca.