RES FA-15RESOLUTION NO. FA-15
RESOLUTION NO. FA-15
RESOLUTION OF THE AUTHORITY COMMISSION OF THE
PALM DESERT FINANCING AUTHORITY AMENDING
RESOLUTION NO. FA-14 TO INCREASE THE
AUTHORIZED PRINCIPAL AMOUNT OF THE REVENUE
BONDS AUTHORIZED THEREBY
WHEREAS, on August 24, 1995, the Authority Commission
(the "Commission") of the Palm Desert Financing Authority (the
"Authority") adopted Resolution No. FA-14 authorizing the issuance
of revenue bonds (the "Bonds") for the purpose of purchasing bonds
of the City of Palm Desert relating to Assessment Districts Nos.
83-1, 84-1-R and 87-1 of the City of Palm Desert (the "Local
Obligations") in an aggregate principal amount not to exceed
$7,000,000; and
WHEREAS, the Commission has been advised that it nas been
determined that in order to complete the purchase of the Local
Obligations it will be necessary that the Bonds be issued in the
aggregate principal amount of approximately $7,600,000, and that.
Resolution No. FA-14 should be amended to authorize the issuance
and sale of the Bonds in an aggregate principal amount not to
exceed $7,800,000;
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY
THE AUTHORITY COMMISSION OF THE PALM DESERT FINANCING AUTHORITY AS
FOLLOWS:
Section 1. The Commission hereby authorizes the issuance
of the Bonds in an aggregate principal amount which shall not
exceed $7,800,000, and Section 1 of Resolution No. FA-14 is amended
accordingly.
Section 2. Resolution No. FA-14, as amended hereby, is
hereby ratified and shall remain in full force and effect, and all
actions taken by the authorized officers and staff of the Authority
to effectuate the purpose of said resolution are hereby ratified
and approved. This resolution shall become effective upon
adoption.
RTA283318
RESOLUTION NO. FA-15
PASSED, APPROVED AND ADOPTED by the Authority Commission
of the Palm Desert Financing Authority this 20th day of September,
1995.
.-'ATTEST:
Shei] a
of the
AYES: BENSON, KELLY, SNYDER, CRITES
NOES : NONE
ABSENT: SPIEGEL
ABSTAINED: NONE
R. G.11igan, cretary
Authority
Buf
0
. Crites, President
Authority
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RESOLUTION NO. FA-15
I, Sheila R. Gilligan, Secretary of the Palm Desert
Financing Authority, do hereby certify that the foregoing
resolution was regularly introduced and adopted by the Authority
Commission of the Palm Desert Financing Authority at a special
meeting thereof held on the 20th day of September, 1995 by the
following vote of the Commission:
AYES: BENSON, KELLY, SNYDER, CRITES
NOES: NONE
ABSENT: SPIEGEL
ABSTAINED: NONE
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the Palm Desert Financing Authority
this 2.1 day of $Pntemhar , 1995.
/ City Clerk"- f the v, of
Palm Desert, CalifO,541z
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RESOLUTION NO. FA-15
STATE OF CALIFORNIA )
ss.
COUNTY OF RIVERSIDE )
I, Sheila R. Gilligan, Secretary of the Palm Desert
Financing Authority, DO HEREBY CERTIFY that the above and foregoing
is a full, true and correct copy of Resolution No.FA-15 and that
the same has not been amended or repealed.
DATED:
September 21
Secretary o the
Palm Desert Financing' Authority
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