Resolution - 7232RESOLUTION NO. 7232
RESOMTTION OF . THE CITY COUNCIL OF THE CITY OF WEST
COVINA APPROVING THE ISSUANCE BY THE REDEVELOPMENT
AGENCY OF THE CITY OF WEST COVM OF $19,000,000
MAXIMUM PRINCIPAL ANAO(]NT OF TAX ALLOCATION
REFUNDING BONDS WITH RESPECT TO cmRAL BUSINESS
DISTRICT REDEVELOPMENT PROJECT AND $5,000,000
MAXGM M PRINCIPAL A K)UNT OF TAX ALLOCATION
REFUNDING BONDS WITH RESPECT TO EASTLAND
REDEVELOPMENT PRQTECT
WHEREAS, the Redevelopment Agency of the City of West Covina (the
"Agency") is -a duly constituted public body, corporate and politic
established. pursuant to the Community Redevelopment Law of the State of
• California (the "Law"); and
WHEREAS, pursuant to the Law and the provisions of Article 11 of
Chapter 3 of Part 1 of Division 2 of the Government Code of the State of
California, the Agency has duly authorized the issuance of its Eastland
Redevelopment Project 1986 Tax Allocation Refunding Bonds in the aggregate
principal amount of not to exceed $5,000,000 and its Central Business
District Redevelopment Project 1986 Tax Allocation Refunding Bonds in the
aggregate principal amount of not to exceed $19,000,000 (collectively, the
"Refunding Bonds"); and
WHEREAS, the Agency has' authorized the sale of the Refunding Bonds by
negotiation to E.F. Hutton & Conpany, Inc.; and
WHEREAS,* pursuant. to the Law the City Council of the City of West
Covina has reviewed said financing and wishes to declare its approval
thereof in,accondance with Section 33640 of the Laws
NOW, THEREFORE, BE IT. RESOLVED by the City Council of the City of
West Covina as follows:
Section 1. That said issuance and.sale of the Refunding Bonds by the
Agency is hereby approved.
Section 2. The City Clerk. shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 6th day of August; 1986.
oe
Mayor
ATIEST:
— ye��
City Clerk
I HEREBY -CERTIFY that the foregoing Resolution No.3232 was'duly
• adopted by the City Council of the City of West Covina at a adjourned
regular meeting thereof held on the 6th day of August, 1986, by the
following vote:
AYES: Bacon, Manners, Chappell
NOES: None
ABSENT: Tennant, Shearer.
ABSTAIN: None
City mtol2ffey
c OF CALIFORWA
:.OVNTY OF LOS ANG&S j Q
CITY OF WEST CoVftA
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City Clerk
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