HomeMy WebLinkAbout143-94/-'N
RESOLUTION NO. 143- 94
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF DANVILLE
APPROVING THE ISSUANCE OF NOT TO EXCEED $3,000,000 PRINCIPAL
AMOUNT OF DOWNTOWN REDEVELOPMENT PROJECT AREA 1994 TAX
ALLOCATION BONDS BY THE COMMUNITY DEVELOPMENT AGENCY
WHEREAS, the Community Development Agency of the Town of Danville (the
"Agency") is assisting in the financing of a library, community center and related off-site
improvements (the "Project") located in the Downtown Redevelopment Project in the Town of
Danville, and the Agency is considering adoption of its resolution authorizing the issuance and
sale of its 1994 Tax Allocation Bonds in the maximum principal amount of $3,000,000 (the
"Bonds") for the purpose of providing financing for the Project; and
WHEREAS, the Association of Bay Area Governments ("ABAG") has established a
program of pooled financing for redevelopment agencies and has proposed to purchase the
Bonds from the Agency in order to provide financing for the Project; and
WHEREAS, in accordance with the requirements of Section 33640 of the California
Health and Safety Code, the Town Council wishes at this time to approve the issuance of the
Bonds by the Agency;
NOW, THEREFORE, be it resolved, determined and ordered by the Town Council of the
Town of Danville that the issuance of the Bonds by the Agency in the aggregate principal
amount of not to exceed $3,000,000, and the sale thereof to ABAG, be and is hereby approved.
APPROVED by the Town Council of the Town of Danville at a Regular Meeting held on
Tuesday, November 15, 1994, by the following vote:
AYES: Rttchey,
NOES: None
ABSTAINED: None
ABSENT: None
Greenberg, Doyle, Shimansky, Waldo
APPROVED AS/;TO FORM: /
Town Attorney ~/
ATTEST:
CZ~C'~ ".Let Oo-j
Town Clerk