HomeMy Public PortalAbout02-167 RESOLUTION NO. 02-167
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARSON, CALIFORNIA, AUTHORIZING THE ISSUANCE, SALE
AND DELIVERY BY THE CARSON REDEVELOPMENT AGENCY
OF ITS TAX ALLOCATION BONDS, 2003 SERIES A (CARSON
MERGED AND AMENDED PROJECT AREA)
RECITALS
A. The Carson Redevelopment Agency(the"Agency") is a redevelopment
agency authorized pursuant to the Community Redevelopment Law of the State of California,
being Part 1 of Division 24 (commencing with Section 33000) of the California Health and
Safety Code, as amended(the"Law")to incur indebtedness for the purpose of financing and
refinancing certain redevelopment activities within and for the benefit of its redevelopment
project areas.
B. A redevelopment plan(the "Redevelopment Plan") for a redevelopment
project known and designated as the "Carson Merged and Amended Project Area"(the"Project
Area") has been adopted and approved and all requirements of law for, and precedent to,the
adoption and approval of said plan have been duly complied with.
C. The Redevelopment Plan contemplates that the Agency would, from time
to time, issue its bonds to finance a portion of the cost of such redevelopment.
D. With respect to the project area formerly known as "Redevelopment
Project Area No. 2,"which is now a component area of the Project Area, the Agency has
previously issued its Redevelopment Project Area No. 2 Refunding Tax Allocation Bonds, Series
1993 of which $22,220,000 remain outstanding(the"Series 1993 Bonds").
E. In light of favorable market conditions, the Agency has determined to
issue its Tax Allocation Bonds, 2003 Series A(Carson Merged and Amended Project Area), in the s
aggregate principal amount not to exceed$24,000,000 (the"Series 2003A Bonds")to provide
moneys to (i) finance portions of the Agency's undertaking with respect to the redevelopment of
the Project Area, and (ii) refund and defease a portion of the Series 1993 Bonds.
F. Section 33640 of the Law requires the Agency to obtain the approval of
the City Council of the City of Carson(the "City")before the issuance of the Series 2003A
Bonds.
G. The City Council, with the aid of its staff, has reviewed the documentation
relating to the issuance of the Series 2003A Bonds, and wishes to approve the issuance, sale and
delivery of such bonds by the Agency.
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Resolution No. 02-167/Page No. 2 of 3
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CARSON
HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. The issuance, sale and delivery of the Series 2003A Bonds by the
Agency are hereby approved.
Section 2. Each of the Mayor,the Mayor Pro Tem,the City Manager,the
Administrative Services General Manager, the City Clerk of the City and any person designated
by any of them, is hereby authorized and directed,jointly and severally, to execute and deliver
any and all documents and instruments and to do all things which they may deem necessary or
proper for carrying out the transactions contemplated by this Resolution or in connection with the
sale of the Series 2003A Bonds.
PASSED, APPROVED and ADOPTED this 3rd day of December, 2002.
ayor
Attest:
r
'rim' /
' V I J J 2,4
City Clerk
APPROVE AS TO FORM:
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City Attorney
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Resolution No. 02-167/Page 3 of 3
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF CARSON )
I, Helen S. Kawagoe, City Clerk of the City of Carson, California, do hereby certify that the whole
number of members of the City Council is four; that the foregoing resolution, being Resolution No. 02-167
was duly and regularly adopted by said Council at a regular meeting duly and regularly held on the 3rd day
of December, 2002, and that the same was passed and adopted by the following vote:
AYES: COUNCIL MEMBERS: Mayor Sweeney, Calas, and Dear
NOES: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Frank
t
City Clerk, City of Carson, Ca fornia
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