HomeMy WebLinkAbout1995-06-27 - RESOLUTIONS - SCRDA LOAN (2)RESOLUTION NO. 95-51
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA CLARITA, CALIFORNIA,
AUTHORIZING A LOAN OF AN AMOUNT NOT TO
EXCEED $1,250,000 TO THE REDEVELOPMENT
AGENCY OF THE CITY OF SANTA CLARITA;
ACCEPTING AND AUTHORIZING THE
ACKNOWLEDGMENT OF A PROMISSORY NOTE
WITH THE REDEVELOPMENT AGENCY OF THE
CITY OF SANTA CLARITA IN CONNECTION
THEREWITH; AND AUTHORIZING CITY OFFICIALS,
STAFF AND OTHER PARTIES TO ACCOMPLISH
THE ACCEPTANCE AND ACKNOWLEDGMENT OF
SAID PROMISSORY NOTE.
WHEREAS, the Redevelopment Agency of the City of Santa Clarita (the
"Agency") is a redevelopment agency and public body, corporate and politic,
duly created, established and authorized to transact business and exercise its
powers, all under and pursuant to the Community Redevelopment Law
(consisting of Part 1 of Division 24, commencing with Section 33000, as
amended, of the California Health and Safety Code) ( the "Redevelopment
Law"), and the powers of the Agency include the power to borrow money from
the City of Santa Clarita, California (the "City"), and to issue notes and other
instruments necessary or convenient to the exercise of such power; and
WHEREAS, the City is a general law city and municipal corporation
organized and existing under the laws of the State of California, with full
right, power and authority to loan money to the Agency and to accept and
acknowledge notes and other instruments necessary or convenient to the
exercise of such power; and
WHEREAS, a redevelopment plan for a redevelopment project known and
designated as the "Project Area" has been adopted and approved by Ordinance
No. 94-3 of the City adopted on February 22, 1994 (the "Plan"), and all
requirements of law for and precedent to the adoption and approval of the Plan
have been complied with; and
WHEREAS, for the corporate purposes of the City, the City proposes to
authorize the lending of an amount not to exceed $1,250,000 to the Agency
and, in connection therewith, accept and acknowledge a Promissory Note dated
as of June 27, 1995 (the "Note"), executed and delivered by the agency in favor
of the City to finance a portion of the costs of implementing the Plan and to
pay costs in connection with the execution and delivery of the Note; and
WHEREAS, the Agency duly adopted its Resolution No. RDA95-5 on
June 27, 1995, which provides for, inter alia, the authorization to borrow
money from the City and execute and deliver the Note; the authorization
of and direction to Agency General Counsel to prepare all other documents
pertaining to the execution and delivery of the Note; and the execution of
such documents by Agency officials, and the authorization for Agency
officials and staff to take such actions as are necessary to accomplish the
execution and delivery of the Note;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
CLARITA, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND
DECLARE THAT:
Section 1. Loan to Agency Authorized. The City is
hereby authorized to lend an amount not to exceed $1,250,000 to the
Agency for certain lawful and public purposes, including, without
limitation, the purposes set forth in the foregoing recitals.
Section 2. Promissory Note. The City hereby approves the
Note in substantially the form on file with the City Clerk, together with
any changes therein or additions thereto approved by the Mayor or the
Vice -Mayor and subject to City Attorney approval. The Mayor or Vice -
Mayor shall accept and acknowledge the Note, the City Clerk shall attest
to such signature, in the name and on behalf of the City, and the
execution and attestation thereof shall be conclusive evidence of approval
of any such changes and additions.
Section 3. Authorization to Proceed. All actions
heretofore taken by the officers and agents of the City with respect to
lending money to the Agency and the acceptance and acknowledgment of
the Note are hereby approved, confirmed and ratified. The City hereby
authorizes and directs the City Attorney to prepare all other documents
in connection with the lending of money to the Agency; to advise the City
in connection therewith; and to otherwise accomplish the lawful and
expeditious acceptance and acknowledgment of the Note. City officials and
staff are hereby authorized and directed to assist and cooperate in
connection with the execution and delivery of the Note by the Agency and
to take any and all actions which they, or any of them, may deem
necessary or advisable in order to consummate the transactions described
herein including, but not limited to, the execution and delivery of any and
all agreements, certificates, instruments and other documents.
Section 4. Effectiveness. This Resolution shall take effect
from and after its adoption by the City Council of the City.
PASSED AND ADOPTED by the City Council of the City of Santa
Clarita at a regular meeting held on the 27th day of
June , 1995.
CITY OF SANTA CLARITA,
CALIFORNIA
MAYOR
ATTEST:
BITT'CLERIC
STATE OF CALIFORNIA )
City of Santa Clarita )ss
COUNTY OF LOS ANGELES )
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the
City Council of the City of Santa Clarita at a regular meeting thereof, held on
the
77ah day of .lune 1995, by the following vote of the City
Council:
AYES:
NOES:
ABSENT:
Wco=6n5-81res
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
Snyth, Boyer, Pederson, Heidt, Darcy
.,one
None 1
C11 1.
CLEUK