R-7563
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e _
RESOLUTION NO. 7563(ccS)
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA APPROVING THE ISSUANCE AND SALE
BY THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA OF ITS OCEAN PARk REDEVELOPMENT
PROJECTS TAX ALLOCATION REFUNDING BONDS,
SERIES 1988A ABD ITS OCEAN PARK REDEVELOPMENT
PROJECT TAX ALLOCATION REFINANCING BONDS,
SERIES 1988B
WHEREAS, the Redevelopment Agency of the City of
Santa Monica (the RAgencyR) has determined to issue and sell
its Ocean Park Redevelopment Projects Tax Allocation Refunding
Bonds, Series 1988A, for the purpose of refunding the Agency's
outstanding Ocean Park Redevelopment Project Tax Allocation
Bonds, Series 1984, in accordance with Resolution No. 419 (RAS)
duly adopted by the Agency; and
WHEREAS, the Agency has determined to issue and
sell its Ocean Park Redevelopment Project Tax Allocation
Refinancing Bonds, Series 1988B, for the purpose of
refinancing certain indebtedness of the Agency evidenced by
promissory notes and a reimbursement agreement in favor of the
City of Santa Monica;
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Santa Monica, as follows:
Section 1. The issuance of Redevelopment Agency
of the City of Santa Monica, Ocean Park Redevelopment Projects
Tax Allocation Refunding Bonds, Series 1988A by the Agency, as
provided in said Resolution No.419RA~ is hereby approved.
Section 2. The issuance and sale of Redevelopment
Agency of the City of Santa Monica, Ocean Park Redevelopment
Project Tax Allocation Refinancing Bonds, Series 1988B by the
Agency, as provided in said Resolution No.419RA~ is hereby
approved.
Section 3. This Resolution shall take effect from
and after its adoption and approval.
.l "'" ...~
.
.
PASSED AND ADOPTED onFebruary 23, 1988 by the
following vote:
AYES: Counc~lmembers F~nkel, Jenn~ngs, A. Katz, H. Katz, Reed, Zane,
Conn
NOES: None
(
~ AN
~~yor'of the City
of Santa Monica
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ABSENT: None
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APPROVED AS TO FORM
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ROBERT M. MYERS
Agency Counsel
2
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