HomeMy WebLinkAboutResolution - 1561 1 RESOLUTION NO. 1561
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SAN JACINTO, A CALIFORNIA MUNICIPALITY,
3 TRANSFERRING A PORTION OF THE PRIVATE ACTIVITY
BOND ALLOCATION TO THE STATE OF CALIFORNIA
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WHEREAS, pursuant to the Tax Reform Act of 1984 (Public Law 98-369) and
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the Governor's Proclamation of July 19, 1984 implementing said Act, the City
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of San Jacinto (the "City) has received a private activity bond allocation in
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the amount of $463,000.00 for the calendar year 1984; and
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WHEREAS, it is not expected that the City will utilize the full amount of
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such allocation for the issuance of private activity bonds during 1984; and
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_ WHEREAS, the Proclamation permits the City to transfer to the State of
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California or any other local agency all or any portion of its private activity
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bond allocation in any calendar year; and
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WHEREAS, the City wishes to cooperate with the State and other local gov-
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ernments which may need allocation in 1984; and
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WHEREAS, the City understands that the State acting through its Debt Limit
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Allocation Committee is willing to act as a clearinghouse to assist in the
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most efficient utilization of allocations in 1984.
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San
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Jacinto as follows:
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1 . The City of San Jacinto hereby transfers to the State of California
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the aggregate amount of $463,000.00 of the City's unused private activity bond
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allocation for 1984 under the Act and the Governor's Proclamation. Such allo-
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cation may be transferred by the California Debt Limit Allocation Committee to
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any other state agency or local agency as such Committee may deem appropriate,
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and may be used by any such transferee for a carryforward election.
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2. The City Clerk is hereby directed to immediately transmit a certified
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copy of this resolution to the California Debt Limit Allocation Committee.
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3. This resolution shall take effect immediately upon its passage.
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P10VED, PASSED and ADOPTED on the 18th day of December 1984, by the follow-
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ing vote:
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AYES: Councilmen Divine, Rose, Stevens, Visser and Stuart
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1 NOES: None
2 ABSENT: None
3 ATTE T:
4 Mav
y City Clerk
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6 CLERK'S CERTIFICATE
7 I, the undersigned, Deputy City Clerk of the City Council of the City of
8 San Jacinto, hereby certify that the foregoing is a full , true and correct
9 copy of a resolution duly introduced and adopted at a regular meeting of the
10 City Council of said City duly and regularly held on the 18th day of December
11 1984, of which meeting all of the members of said City Council had due notice
12 and at which a majority thereof were present; and that said resolution was
13 adopted by the following vote:
14 AYES: Councilmen Divine, Rose, Stevens, Visser and Stuart
NOES: None
15 ABSENT: None
16 I further certify that I have carefully compared the same with the original
17 minutes of said meeting on file and of record in my office; that said resolu-
18 tion is a full , true and correct copy of the original resolution so adopted
19 and entered in said minutes; and that said resolution has not been amended and
20 is now in full force and effect.
21 IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official
22 seal of the City of San Jacinto this 19th dayie
December 1984.2324 y City Clerk
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