HomeMy WebLinkAboutCC RES 94-081RESOLUTION NO. 94-81
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF PALM DESERT APPROVING THE ISSUANCE OF
RENTAL HOUSING REVENUE BONDS (DESERT ROSE
PROJECT) BY THE PALM DESERT REDEVELOPMENT
AGENCY
THE CITY OF PALM DESERT HEREBY FINDS, DETERMINES,
RESOLVES AND ORDERS AS FOLLOWS:
Section 1. Auuroval of Issuance of Bonds. The City
Council hereby approves the issuance of Rental Housing Revenue
Bonds (Desert Rose Project) by the Palm Desert Redevelopment Agency
pursuant to its Resolution entitled: "A RESOLUTION OF THE PALM
DESERT REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE OF ITS RENTAL
HOUSING REVENUE BONDS (DESERT ROSE PROJECT), AND THE EXECUTION AND
DELIVERY OF A TRUST INDENTURE, A PURCHASE CONTRACT, A REGULATORY
AGREEMENT, A FINANCING AGREEMENT, A REMARKETING AGREEMENT, AN
INTERCREDITOR AGREEMENT AND A HOUSING ASSISTANCE AGREEMENT,
APPROVING A PRELIMINARY OFFICIAL STATEMENT AND FINAL OFFICIAL
STATEMENT IN CONNECTION THEREWITH, AUTHORIZING THE EXECUTION AND
DELIVERY OF OTHER DOCUMENTS, AND MAKING CERTAIN FINDINGS".
Section 2. j;ffective Date. This Resolution shall become
effective immediately upon adoption.
APPROVED AND ADOPTED this 14th day of July, 1994.
AYES: BENSON, CRITES, KELLY, SNYDER, WILSON
NOES: NOES
ABSENT: NOES
ABSTAIN: NOES
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.Roy Wilson, Mayo
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ATTEST:
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Sheila R. Gilligan, City Clerk