Resolution - 69450
RESOLUTION NO. 6g45
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA
APPROVING THE REDEVELOPMENT AGENCY OF THE CITY OF WEST COVINA
ENTERING INTO A FIRST INSTALLMENT SALE AGREEMENT FOR THE
PURPOSES OF FINANCING PUBLIC PARKING FACILITIES
is WHEREAS, the Redevelopment Agency of the City of West Covina (the
"Agency") proposes to aid in the financing of public parking facilities
together with related property (the "Project") situated in the Eastland
Redevelopment Project Area of the Agency, by acquiring the Project from the
Parking Authority of the City of West Covina, pursuant to that certain First
Installment Sale Agreement dated as of October 1, 1984 (the "First Installment
Sale Agreement"); and
WHEREAS, in accordance with Section 103(k) of the Internal Revenue Code
of 1954, as amended, the City Council has duly called and conducted a hearing
on said financing, notice of which has been given in accordance with said
Section 103(k).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of West
Covina, as follows:
Section 1. The City Council hereby approves the entering into by the
Agency of the First Installment Sale Agreement for the purpose of financing
the Project in accordance therewith.
Section 2. This resolution shall take effect immediately.
Section 3. The City Clerk shall certify to the adoption of this
resolution.
APPROVED AND ADOPTED this 22nd day of October 1984.
Mayor
ATTEST:
/i OA M
I HEREBY CERTIFY that the foregoing Resolution No. 6A4r was duly
adopted by the City Council of the City of West Covina at a regular meeting
thereof held on the 22nd day of October 1984, by the following vote:
AYES: Manners, Chappell, Shearer, Tennant, Bacon
NOES: None
ABSENT: None
ABSTAIN: None
•
City Clerk
APPROVED AS TO FORM
�w� 49 M q__ UL 4,
Agency pecial Counsel
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