HomeMy WebLinkAboutNB 2 TAX ALLOC BONDS 11-15-82DATE: Nov. 10, 1982 NEW BUSINESS Inter-Corn SUBJECT: HONOBABLE MAYOR AND CITY COUNCIL BILL HUSTON , CITY MANAGER RESOLUTION OF THE CITY COUNCIL AUTHORIZING THE REDEVELOPMENT AGENCY TO ISSUE TAX ~T.r.OCATION BONDS. The Redevelopment Agency is scheduled to consider the award of bid for tax allocation bonds at its November 15, 1982 meeting. State law requires that the City Council must approve of the allocation and irrevocable pledge by the Agency of tax increment income to pay the principal and interest on the Agency bonds. The City Council would approve the resolution in the event the Agency decided to issue bonds. WH: dmtl RESOLUTION NO. 82-83 A Resolution of the City Council of the City of Tustin APPROVING THE ISSUANCE OF $8,500,000 PRINCIPAL AMOUNT OF TOWN CERNTER AREA REDEVELOPMENT PROJECT TAX AT.TOCATION BONDS, SERIES 1982 BY THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY (This Resolution will be delivered to you in a supplemental packet.)