HomeMy WebLinkAbout1988-04-05; City Council; Resolution 88-115-. 't -, ll 0 0
4
1
2
3
4
RESOLUTION NO. 88-115
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING THE LOAN OF $200,000 TO THE CARLSBAD
HOUSING AND REDEVELOPMENT COMMISSION.
WHEREAS, the City of Carlsbad Housing and Redevelopment Commissi
5
payment to the Carlsbad Unified School District; and 6
requires the loan of $200,000 from the City of Carl sbad to support a
7 WHEREAS, the City Council finds that funds are available for sai
8 loan in the Council's Contingency Account; and
9 WHEREAS, said loan of funds to the Redevelopment Agency will bea
10 interest at the rate of 8% per year on the unpaid balance; and
11 WHEREAS, said 1 oan will be repaid by the Redevelopment Agency at
12
Ill 19
Ill 18
1. That the above recitations are true and correct. 17
Carlsbad, California, as follows: 16
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City 15
reduce the Counci 1 's Contingency Account bal ance to $1,136.373. 14
WHEREAS, this advance of funds to the Redevelopment Agency will 13
rate of $29,800 per year for ten years; and
20 1 //I
21
//I 22
Ill
//I 24
111 23
I
25 //I 1
26
Ill 28
//I 27
/I/
'.. 3 .. ' I/ * 0
! < I1
1
2
3
2. That the loan of $200,000 to the Carlsbad Housing and Redevelopme
Commission is hereby approved and the Finance Director is authorized
- // reduce the General Fund Contingency Account by $200,000 and process s 4 1 oan.
5
6
7
8
9
PASSED, APPROVED AND ADOPTED, regular meeting of the City Counci
the City of Carlsbad, Cal ifornia held on the 5th day of April
1988, by the following vote, to wit:
AYES: Council Members Lewis, Kulchin, Pettine, Mamaux and Lars,
NOES: None
10
11
12
ABSENT: None
13 j/ ATTEST:
14 11 &AANgskk
15 11 \
16 11
17
18
19 I
2o I 21
22
23
24
25
26
27 11 28