HomeMy WebLinkAboutReso RDA 07-2006
RESOLUTION NO. 07-2006
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO,
STATE OF CALIFORNIA
A RESOLUTION CONFIRMING THE NOT TO
EXCEED AMOUNT OF THE UPCOMING TAX
ALLOCATION BOND SALE
WHEREAS, on February 22, 2006 the Redeveloplnent Agency of the City of South San
Francisco Inade findings and declared that it \vas necessary, essential and a public purpose for the
Agency to issue tax allocation bonds of the Agency (the "Bonds", as herein defined) to refund
prior bonds and to finance various redeveloplnent activities in the Merged Project Area in the
City of South San Francisco (the "City"), and
WHEREAS, on February 22, 2006 the Agency Board therefore authorized a bond sale of
not to exceed $80 million, and
WHEREAS, the mnount of the bond sale needs to be confinned now that the Board has
approved funding for a Fire Training Tower but not for an EInergency Operations Center.
NOW, THEREFORE, BE IT RESOLVED by the Redeveloplnent Agency of the City of
South San Francisco as follows:
1. Approval of Issuance of Bonds. The Board confin11s that the bonds of the
Agency, designated as "Redeveloplnent Agency of the City of South San Francisco Merged
Redevelopment Project Tax Allocation Revenue Bonds, Series 2006A (the "Series A Bonds") are
hereby authorized to be issued, so long as the aggregate principal amount of the Series A Bonds
does not exceed $80,000,000 (Eighty Inillion dollars).
2. Effective Date. This resolution shall take effect iInInediately upon its adoption.
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I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the Redeveloplnent Agency of the City of South San Francisco at a regular Ineeting held on the
12th day of April 2006 by the following vote:
AYES:
Boardmelnbers Pedro Gonzalez and Karyl MatsuInoto, Vice Chair Richard
A. Garbarino and Chair Joseph A. F emekes
NOES:
ABSTAIN:
ABSENT:
Boardmember Mark N. Addiego