HomeMy WebLinkAboutRDA RES 192RESOLUTION NO. 192
RESOLUTION OF THE PALM DESERT REDEVELOPMENT
AGENCY MAKING CERTAIN FINDINGS REGARDING
EXISTING OBLIGATIONS
THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS, DETERMINES,
RESOLVES AND ORDERS AS FOLLOWS:
Section 1. The Agency has adopted various
authorizing the issuance and providing for the sale
"Palm Desert Redevelopment Agency, Project Area No.
Resolutions
of its
1, As
Amended (Original Territory Only), Tax Allocation Bonds, Issue
of 1985," in the aggregate principal amount of $26,275,000.
The proceeds of such Bonds will be used by the Agency to
finance certain
storm drainage improvements
for public buildings and facilities, all of
necessary to the health, safety and welfare
and to acquire land
which are vital and
of the residents
and taxpayers of the City of Palm Desert. The Agency has
pledged all taxes allocated to the Agency from the original
territory in its Project Area No. 1, As Amended, to the
repayment of the Bonds. Therefore, in any fiscal year, the
Agency may deposit less than the amounts required pursuant to
California Health and Safety Code Section 33334.6(c) into the
Low and Moderate Income Housing Fund established pursuant to
Section 33334.3, as these amounts are necessary under the terms
of the Bonds to make payments due or required to be committed,
set aside or reserved by the Agency during the fiscal year.
Section 2. The Executive Director of the Agency is
hereby authorized and directed to prepare a statement of
existing obligations and a statement of existing programs of
the Agency. The Executive Director is hereby further
authorized and directed to submit such statements to the City
Council of the City of Palm Desert and to the Department of
Housing and Community Development. The Executive Director is
hereby further authorized and directed to cause to be published
a notice of public hearing to be held by the Agency regarding
such statements. Such notice shall be published once a week
for two successive weeks prior to the hearing in a newspaper of
general circulation in the City. Notice of such hearing shall
also be mailed by certified mail, return receipt requested,
fifteen days prior to the hearing, to the Department of Housing
and Community Development.
PASSED APPROVED and ADOPTED this 14thday of
November , 1985, by the following vote, to wit:
AYES: BENSON, JACKSON, SNYDER, WILSON AND KELLY
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
G('`z/L6
RICHARD S. KELL
ATTEST:
SHEILA R. GI IGAN, SEC ETARY -2-
PALM DESERT REDEVELOPMIVT AGENCY
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RMAN