HomeMy WebLinkAboutRDA RES 264RESOLUTION NO. 264
RESOLUTION OF THE PALM DSSSRT REDEVELOPMENT
AGENCY RHPLACII IG HONDIiOLD8R8' LOST DOCUMEl 'I'S
BY ISSUANCS OF NSiI BONDS IN RSGISTSRSD FORH
WHEREAS, the Palm Desert Redevelop ent Agency has been
informed that Bondholders of that certain issue of Bonds designated
"Pal Desert Redevelopment Agency, Proje t Area No. 1, As Amended,
Issue of 1982", lost their coupon Bonds. The Agency has further
been informed that such Bondholders, Harold Athey & Marilyn Athey
Co-TTE$ Athey Family Trust, dated 8-2-88, Zost Coupon Bond No.
R-5 •for $25;000, and Jean D. Damerel TTFE, The Damerel Family
Trust B U/A/D 7/9/84, lost Coupon Bond Numbers R-153 and R-154 for
$10,000 and $20,000, respectively, and both family trusts have
requested such lost bonds to be replaced with Bonds fn a fully
registered form.
WHEREAS, Section 21 of Resolution No. 154, as amended, of the
Agency, provides that in such circumstances the Agency shall cause
to be issued a new Bond similar to the origina2 in such manner and
upon such reasonable terms and conditions as may from time to time
be determined and described by Resolution.
WiiERBAS, the Aqency is in receipt of copies of surety bonds in
favor of City National Bank, Fiscal Agent of the Agency, regarding
such lost Bonds.
NOW, THSRSFORB, THL PALM D85SRT RgDBVELOPMSNT AGBNCY H$REBY
FINDS, DETBRMINEB, RE$OLVES AND ORDERS AS FOLLOWS:
, ection 1. City National Bank, Fiscal Agent for the Agency in
connection with the above described iseuance of Bonds, is hereby
authorized and directed to cause to be provided to Harold Athey &
Marilyn Athey Co-TTES Athey Family Trust, dated 8/2/88, for such
Bond No. R-50, and Jean D. Damerel TTEE The Damerel Family Trust B
U/A/D 7/9/84 such Bond Numbers R-153 and R-154. The members of the
Agency and its officers are hereby authorized and directed to take
all actions and do all things necessary or appropriate .n
connection with providing such new Bonds, including, without
limitation, the siqninq of documents with regard thereto.
Section Z. City National Bank is hereby further authorized
and directed to cause to be paid to The Harold Athey & Marilyn
Athey Co-TTE$ Athey Family Trust, dated 8/2/88, and the Jean D.
Damerel TTEE the Damerel Family Trust B U/A/D 7/9/84, interest
PaYments on such lost coupon Bonds which they would otherwise have
received.
`, .r
RESOLUTION NO. 264
PASSED, APPROVED AND ADOPTED this lOth day of September, 1992,
at a regular meeting of the Palm Desert Redevelopment Agency, by
the following vote, to wit:
AYSB:
NOES:
ABSBNT:
1�lBSTAIN :
�
1 ��T:
B�NSON, CRITSS, SNYDBR, i1iLSON, KSLLY
NONE
IiOI�iE
NONS
t
Ri ard S. KeZl , Chairm
,.�' .
Sheila R. G111-fgan, Se�r'etary
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