HomeMy WebLinkAboutRDA RES 10-04RDA RESOLUTION NO. 10-04
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF TUSTIN, CALIFORNIA, DESIGNATING
CONSULTANTS IN CONNECTION WITH THE PROPOSED
ISSUANCE OF TAX ALLOCATION HOUSING BONDS AND
AUTHORIZING AND DIRECTING CERTAIN ACTIONS
WITH RESPECT THERETO
The Tustin Community Redevelopment Agency (the "Agency") of the City of
Tustin does hereby resolve as follows:
SECTION 1: In connection with housing activities of the Agency related to its (a)
Town Center Redevelopment Project, (b) South Central Redevelopment Project, and (c)
MCAS Tustin Redevelopment Project (collectively, the "Redevelopment Projects"), the
Agency has entered into various agreements obligating it to provide funds to assist in
the development of housing for persons and families of low and moderate. income, and
the Agency expects that it will enter into additional agreements to provide monetary
assistance to other developers of such housing.
SECTION 2: In order to finance its housing activities, the Agency is considering
the issuance of tax allocation housing bonds (the "Bonds"), the principal of and interest
on which will be payable from tax increment revenues received by the Agency from the
Redevelopment Projects that are required by the California Redevelopment Laver tQ be
used to increase, improve and preserve the supply of low and moderate income
housing.
SECTION 3: Officers and officials of the Agency are hereby authorized to
proceed with the preparation of documents necessary to provide for the issuance and
sale of the Bonds. All such documents to which the Agency will be a party shall be
subject to the final approval thereof by the Agency at a subsequent meeting of the
Agency.
SECTION 4: Fieldman, Rolapp & Associates is hereby designated as financial
advisor to the Agency; Quint & Thimmig LLP is hereby designated as bond counsel and
as disclosure counsel to the Agency; and HdL Coren & Cone is hereby designated as
fiscal consultant to the Agency, each in connection with the issuance and sale of the
bonds. The Executive Director is hereby authorized and directed to execate agreements
with such firms for their services with respect to the Bonds, in forms acceptable to the
Executive Director and Agency counsel; provided that any and all compensation
payable to such firms shall be contingent upon the sale and issuance of the Bonds.
SECTION 5: Piper Jaffray & Co. is hereby designated as underwriter to the
Agency in connection with the issuance and sale of the Bonds.
RDA Resolution 10-04
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SECTION 6: The Chairperson, the Vice Chairperson, the Executive Director, the
Treasurer, Agency Counsel, and Secretary and all other appropriate officials of the
Agency are hereby authorized and directed to execute such other agreements,
documents and certificates as may be necessary to effect the purposes of this
Resolution and the financing herein authorized.
SECTION 7: This Resolution shall be in full force and effect immediately upon its
adoption.
PASSED AND ADOPTED at a regular
Redevelopment Agency held on the 19th day of, J;
ng of the
2010. /
unity
ha
A~i'EST:
NI~LA STOKE
cording Secretary
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
I, Pamela Stoker, City Clerk and ex-officio Secretary of the Tustin Community
Redevelopment Agency of the City of Tustin, California, do hereby certify that the whole
number of the members of the Redevelopment Agency of the City of Tustin is five; that
the above and foregoing RDA Resolution No. 10-04 was duly passed and adopted at a
regular meeting of the Tustin Community Redevelopment Agency, held on the 19th day
of January, 2010, by the following vote:
AGENCYMEMBER AYES:
AGENCYMEMBER NOES:
AGENCYMEMBER ABSTAINED:
AGE!^1G'r'fil~Cti~1BER ABSENT:
Amante, Nielsen, Davert, Palmer, Gavello (5)
None (~)
None (~)
N n (~)
€~A ELA S ~_ ,
RQcordirtg' Secretary
RDA Resolution 10-04
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