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Home My WebLink AboutCC RES 87-08617 CITY OF TUSTIN RESOLUTION NO. 87-86 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN APPROVING THE ISSUANCE OF $8,060,000 PRINCIPAL AMOUNT OF TUSTIN COMMUNITY REDEVELOPMENT AGENCY TOWN CENTER AREA REDEVELOPMENT PROJECT TAX ALLOCATION REFUNDING BONDS, SERIES 1987 BY THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY BE IT RESOLVED, DETERMINED AND ORDERED BY THE CITY COUNCIL OF THE CITY OF TUSTIN, AS FOLLOWS: SECTION 1. The Tustin Community Redevelopment Agency (the "Agency") is a redevelopment agency (a public body, corporate and politic) duly created, established and authorized to transact busi- ness 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 bonds for any of its corporate purposes. SECTION 2. The Agency, on July 6, 1987, adopted its Resolution No. RDA 87-6, entitled: 'Resolution of the Tustin Community Redevelopment Agency Approving Contract of Purchase Relating to Town Center Area Redevelopmen~ Project Tax Allocation Refunding Bonds, Series 1987; Approving Official Statement Relating to Said Bonds; and Authorizing Officers of the Agency to do All Things Necessary o'r Advisable Therefor. A Copy of such Resolution has been provided to this City Council. SECTION 3. On July 23, 1987 in conformity with the requirements of Section 147(f) of the Internal Revenue Code of 1986, the Treasurer of the Agency held a public hearing, duly noticed, on the question of whether the issuance of Bonds of the Agency in the maximum aggregate principal amount of $10,000,000 for the purpose of refunding and defeasing $8,105,000 aggregate principal amount of the Agency's out. standing Town Center Area Redevelopment Project Tax Allocation Bonds, Series 1982 (the "Refunded Bonds") should be approved. The Refunded Bonds were issued for the purpose of financ- ing the following: 1. Public improvements to Tustin Plaza, an office and communitY retail cen. ter of approximately 136 , 200 square feet located at 13681, 13721-71-13821-91 Newport Avenue, Tustin, developed'by Carver Development. 94691.7.2982.08-8 17 9] 27 2. Agency assistance in costs of construction and Agency acquisition of interests in public parking in the "C" Street Parking Structure, located at 445 South "C" Street, Tusti'n, developed by Gfeller DeveloPment and the Stevens Square Association. 3o Agency assistance in land acquisition and construction of public improvements at Plaza La Fayette, an approximately 44,000 square feet commer- cial retail center, located at 13011,13021, and 13031 Newport Avenue, Tustin. 4. The Agency has made public improvements including street widening, upgrading and utility undergrounding in Newport Avenue, E1 Camino Real and First Street; the extension of Sixth Street and installation of traffic signals, water mains., storm drains, sewers and street beautification. A copy of the Treasurer's report of the meeting is attached hereto as Exhibit A. A copy of the Proof of Publication of the Notice of Public Hearing is attached hereto as Exhibit B. SECTION 4. The Agency proposes to adopt its Resolution No. RDA 87-8, a copy of which has been provided to this City Council, entitled · Resolution of the Tustin Community Redevelopment Agency Authorizing the Issuance of $8,060,000 Principal Amount of Tustin Community Redevelopment Agency Town Center Area Redevelopment Project Tax .Allocation Refunding Bonds, Series 1987. Such Resolution authorizes the issuance of Tax Allocation Refunding Bonds (the "Refunding Bonds") of the Agency in the principal amount of $8,060,000, and establishes the interest rates and their terms for said Refunding Bonds. 94691.7.2982.08-8 -2- Tustin Community Redevelopment Agency 300 Centennial Way. Tustin, California 92680 · (714) 544-8890 Date: To: From: July 24, 1987 Boa~of Directors, Tustin Community Redevelopment Ron~q~~~.~, Treasurer, TCRDA Subject: RESUI~TS OF PUBLIC HEARING HELD THURSDAY, JULY 23, IN THE CITY COUNCIL CHAMBERS In compliance of Internal Revenue Code Section 147(f), a Public Hearing was duly notice'd and held on Thursday, July 23, at 4:00 p.m. in the City Council Chambers° The hearing was opened at 4:05 p.m° Staff in attendance included the Agency Treasurer, and David Tan, Attorney with Bond Counsel, Mudge, Rose, Guthrie, Alexander and Ferdon. No members of the public were in attendance. The hearing was closed at 4:55 p.m. RAN: 1 s. Attachment EXHIBIT "A" 1' ti £~,1~0 I~ A lq G £ M~'C.,.O L? lq T Y PROOF OF PUBLICATION (2015.5 C.C.P.) STATE OF CALIFORNIA, . County of Orange, Juanita Folkerts I am a citizen of the United States and a resident of the County aforesaid; I am over the age of eighteen years, and not a party to or interested in the above entitled matter. I am the principal clerk of the printer of Orange County Register, a newspaper of general circulation, published in the City of Santa Ana, County of Orange, and which newspaper has been adiudged a newspaper of general circulation by the Superior Court of the Couniy of Orange, State of California, under the date of November 29, 1905, Case Number A21046; that the notice of which the annexed is a printed copy, has been published in each regular and entire.issue of said newspaper add n'ot in any supplement thereof on the following dates, to wit: July 8, ~987 I certify (or declare) under penalty of perjury that the foregoing is true and correct° Executed at Santa Aha, California. Date ............ July ~3, 1987 19 , .-.,.,,,..,. o.,,o,, e,.,**oeee,,,,..,,.,,,,. Signature Juanita Fo l:kgrt s PROOF OF This space i PUBLICATION EXHIB IT "B" · ir the County Clerk's Filing Stamp t PUBLIC NOTICE Proof of Publication of Notice of Public Hearing July 23, 198' ....... PUBLIC NOTICE TUSTIN COMMUNITY Paste CJJDDIrl REDEVELOPMENT AGENCY ---- , NOTICE Of PUBLIC HEARING Notice J Notice Is hereby given, that , on July 23, 1987 at 4 P.M., in cE~,,m ,B e,~l Ih, Council Chambers, Tustln ,,~ ~,,~,~K~,I.I'.CIIy Hall 300 Cenlennlal · ,./, .,. / Way,Tusti~l, California 92680, Itl Irtl$ bD~II the Treasurer of the Tuslln 'q Community _ Redev.elo?m.e.nt J Agency, the Agency oelng the j lssuer of its proposed Town ,d Center Area Redevelopment "! Prolect Tax Allocation Re- / funding Bonds Series 987 (the ~"Bonds") wll'l hold a public. 'hearing ~n the question oT · whether It should approve the '.Issuance ol the Bonds In the maximum aggregate prlncl- .,pal amount of $10,000,000 for .the purpose of refunding and defeaslng $8,105,000 aggre- gate principal amount of the Agency's outstanding Town Cenler Area Redevelopment Prolect Tax-Allocation Bonds, Series 1982 (Ih, "Re- funded Bonds"). The Re- '' funded Bonds were Issued for the purpose of financing the following: (collectively, the "Protect"): -' I. Public improvements to Tustin Plaza, an office and ' community retail center of approximately, 136,200 square feet located at 13681, 13721-71-13821-91. Newport Avenue, Tustln, developed by Carver Development. 2. Agency assistance in costs i' of constr;~ction and Ag.enc. y I acqulsitl,n of InteresTs tn J public parking In the "C" I Street .Parking Structure, I located: at 445 South "C" ! Street, Tustln, develo~d by I' Gl,liar Oevelopment and I" the Stevens Square Assocla. ;I ~ '.'~.~...,,t:~.-,.-~,.~ J 'acquisition aha cOnstru.c- I tionofpubllc ImprovemenTs ! at Plaza .La Fayette, an J approximately 44,000 I sauare feet commercial ra- J tall center, Iocatect al 13011, I . 13021, and, 13031 Newport I ~.venue, Tusttn. , ~ J 4. The Agency has made pub- J IIc Improvements including J street widening, upgrading / and utility unctergroundlng / in Newport Avenue, El / Camlno,. Real and First / Slreett'the extenslon..of J Sixth Street and Installation I of traffic, signals, water J mains, storm drains, sew- ers and street beautifica- tion. ,. All Interested Individuals are Invited .lo attend' to express their views on the proposed Issue of Bonds and the IGC:a- lion and nature of the Prolect. This. notice Is Intended. Io comply · with the requlre- ments of Section 147(f) of the Internal Revenue Code of 1986, as amended, and.shall be Interpreted consistently therewith. Dated: July 6, 1987, Mary E. Wynn Secretary of the ...... Tustln Community. '. ~"'.' Redevelopment PJ~ h m /m g~m Agency ' : July..8, 1987 -- SECTION 5. In accordance with Section 33640 of the Health and Safety Code of the State of California and Section 14.7(f) of the Internal Revenue Code of 1986, the issuance of ~he Refunding Bonds by the Agency, as'described in Sections 3 and 4 above, is hereby approved. PASSED, APPROVED AND ADOPTED-this 3rd day of August, 1987. .... Mayo~ Attest: 94691.7.2982.08'8 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) § CITY OF TUSTIN ) MARY E. WYNN, City Clerk and ex-officio Clerk of the City Council of the City of Tustin, California, does hereby cer. tify that the whole number of the members of the City Council of the City of Tustin is five; that the above and foregoing Resol.ution No. 87-8(; was duly and regularly introduced, passed and adopted at a regular meeting~ °f~the City Council held on the ~)r(I ~ay of Au.~, 1987, by the fol 1 owing vote' - AYES · NOES · ABSENT.: COUNC ILPERSONS' COUNCILPERSONS- COUNC ILPERSONS- Edgar, Hoesterey, Kelly, Kennedy, Prescott None None MARY E. WYNN~City Cl(eJrk ........ City of Tust~, Californi~