RES-7931 Approving Issuance of Tax Allocation Refunding NotesRESOLUTION NO. 7931
RESOLUTION OF lHE CITY COUNCIL OF lHE CITY OF
ORANGE, CALIFORNIA APPROVING lHE ISSUANCE BY
lHE ORANGE REDEVELOPMENT AGENCY OF ITS TUSTIN
STREET REDEVELOPMENT PROJECT SUBORDINATED
TAXABLE TAX ALLOCATION REFUNDING NOTES, ISSUE
OF 1992, AND MAKING CERTAIN DETERMINATIONS
RELATING THERETO.
WHEREAS, the Orange Redevelopment Agency (herein referred to as the "Agency")
is a redevelopment agency (a 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 [part 1 of Division 24 (commencing with section 33000) of the Health and
Safety Code of the State of California] and the powers of the Agency include the power to issue
notes for any of its corporate purposes; and
WHEREAS, a Redevelopment Plan known as the "Tustin Street Redeve10pment
Project" has been adopted and approved by an ordinance of the City of Orange (the "City") and
subsequently amended by ordinance of the City and all requirements of law for and precedent to
the adoption and approval of said Redevelopment Plan, as amended, have been duly complied with;
and
WHEREAS, the Agency has adopted its Resolution No. ORA-0249
entitled Resolution of the Orange Redevelopment Agency Authorizing the Ism'."""'. Sale and Delivery
of Subordinated Taxable Tax Allocation Refunding Notes in the Principal Amount of Not to
Exceed Seven Million Dollars ($7,600,000) for the Tustin Street Redevelopment Project, Approving
the Form of Indenture of Trust, Note Purchase Agreement and Preliminary Official Statement;.
and WHEREAS, under and pursuant to the above Resolution No. ORA-0249,
the Agency has authorized the issuance and sale of Seven Million ($7,600,000) for the
Orange Redevelopment Agency, Tustin Street Redevelopment Project, Subordinated Taxable Tax
Allocation Refunding Notes, Issue of 1992 (
the "Notes").NOW, lHEREFORE, lHE CITY COUNCIL OF lHE CITY
OF ORANGE,CALIFORNIA DOES HEREBY RESOLVE
AS FOLLOWS:
SECTION 1:Anorova1 of Issuance of Notes. The issuance of an agrepte principal
amount of Seven Million Dollars ($7,600,000) for the "Orange Redevelopment Agency,
Tustin Street Redeve10pment Proj~ Subordinated Taxable Tax Allocation Refundina Nota, IIIue of
1992" (the Notes"), in order to aid in the financing of the Tustin Street R~elopment Project, and
for other purposes related thereto, all of which constitute a "redevelopment activity", as such term
is defined in Health and Safety Code Section 33640, is
herebyapproved.51I\UII\......CTYIU!
SEcrION2.
Effective Date. This Resolution shall take effect upon adoption.
ADOPTED this ~ day of
ATTEST:
f?7 /t-;!!~ Q Oe.J;?(;t1e~
Clerk of th Ity orOrat{ge
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
City Council of the City of Orange at a regular meeting thereof held on the ~ day of
July . 1992, by the following vote:
A1nES: COtnNC1L~~ERS: BARRERA, MAYOR BEYER, COONTZ
NOES: COUNCIL~~ERS: NONE
ABSENT: COtnNC1L~~ERS: STEINER, SPURGEON
ABSTAIN: COtnNC1L~~ERS: NONE
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