Res80 RD-80-01 - Laserfiche WebLink

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DES:yc:6/27/80 ORIGINAL RESOLUTION NO. RD 80-01 RD-80-01 RESOLHTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY PROVIDING FOR THE ISSUANCE OF NOTES, BONDS, OR OTHER OBLIGATIONS FOR FINANCING SINGLE-FAMILY AND MULTI-FAMILY RESIDENTIAL HOUSING WHEREAS, the Redevelopment Agency of the City of Redwood City, California (the "Agency") has determined that a substantial need exists for housing construction and rehabilitation in the City of Redwood City (the "City"), with respect to both single-family (i.e., one to four unit dwellings) and multi-family housing; and WHEREAS, the Agency has the full legal right, power and authority under the laws of the State of California, including Chapter 8 of Part 1 of Division 24 of the Health and safety Code of the State of California (the "Law"), to issue notes, bonds, or other securities or certificates of indebtedness for the purpose of financing single- family and multi-family housing; and WHEREAS, the Agency hereby determines that it is in the best interests of the Agency and the City to proceed with the issuance of such notes, bonds, or other securities or certificates of indebtedness as hereinafter set forth; NOW, THEREFORE; BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, ACTING AS THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, AS FOLLOWS: 1. Within three years from the date of adoption of this resolution, the Agency will issue, at one time or from time to time, pursuant to the Law or any other applicable law now or hereafter enacted, notes, bonds, or other securities or certificates of indebtedness in an aggregate principal amount not to exceed ~ifty ~il!ion Dol~lars ($5~,000,000~, to provide financing for the construction and rehabilitation (including refinancing) of multi-family housing within the City. RD 80-01