HomeMy WebLinkAboutCC RES 85-070,
RESOLUTION NO. IIS-70
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF PALM DESERT, APPROVING THE
TRANSFER OF AN INDUCEMENT RESOLUTZON TO
THE HOUSING AUTHORITY OF THE COUNTY OF
RIVERSIDE AND APPROVING AN AGREEMENT OF
COOPERATION BETWEEN THE CITY AND SAID
AUTHORITY (WESTERM COMMUNITY DEVELOPERS
PROJECT)
WHEREAS, pursuant to Chapter 7, Part 5, Division 31
of the California Health and Safety Code (commencing with
Section 52075) (the "Law"), the City of Palm Desert (the
"City") on August 23, 1985, adopted Resolution No. 84-118
(the "Inducement Resolution") expressing the intention of
the City to finance a 512-unit apartment complex to be
located approximately 1800 feet east of the intersection of
Monterey and Country Club Drive, on the south side of
Country Club Drive, in the City (the "Project"); and
WHEREAS, the City has taken proceedings leading
toward the issuance and sale of its multifamily housing
revenue bonds to obtain moneys to finance the Project, all
under and in accordance with said Law, and the Constitution
and laws of the State of California; and
WHEREAS, the City is currently unable to issue its
bonds to finance the Project; and
WHEREAS, the Housing Authority of the County of
Riverside (the "Authority") is authorized, pursuant to the
provisions af Chapter 1, Part 2 of Division 24 (commencing
with Section 34200) of the California Health and Safety Code
(the "Act") to issue its bonds to finance the Project; and
WHEREAS, �the City desires to have the Project
completed, and by this Resolution desires to authorize the
Authority to operate within the City and to transfer the
Inducement Resolution to the Authority.
I, Sheila R. Gilligan , City Clerk of the City of
Palm Desert, California, do hereby certify that the
foregoing Resolution was regularly introduced and adopted by
the City Council of the City of Palm Desert, California, at
a regular meeting thereof held on the 27th day of June,
1985, by the following vote of the City Council:
AYES• BE�SO�, JACKSON, WILSON AND SNYDER
NOES: NONE
ABSENT: �LLY
ABSTAINED: NONE
IN WITNESS WHEREOF, I have her�unto set my hand and
affixed the of�icial seal of the City of Palm Desert,
California, this 28th day of June, 1985.
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