HomeMy WebLinkAbout1985-09-17; Housing & Redevelopment Commission; Resolution 58L .- -a e w
I /I RESOLUTION NO. 058
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A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMIS:
OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING DEBT (
THE REDEVELOPMENT AGENCY AND REQUESTING A LOAN FROM r
CITY FOR THE NECESSARY FUNDS.
5 WHEREAS, the Housing and Redevelopment Commission of
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Business District Storm Drain; and 8
changes to the construction and management contracts on thc 7
City of Carlsbad, California, has considered the necessity
9 WHEREAS, the Housing and Redevelopment Commission re1
10 these change orders necessitate additional cost which are
11 acceptable expenses to the Redevelopment Agency;
12 NOW, THEREFORE, be it resolved, by the Housing and
13 Redevelopment Commission of the City of Carlsbad, Californ
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1)
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That the Redevelopment Agency debt for change orders
the construction and management contracts on the Cen
Business District Storm Drain is hereby approved up
not to exceed $307,606.
That the Housing and Redevelopment Commission hereby
that the City of Carlsbad loan the amount up to but exceed $307,606 to the Redevelopment Agency for the
change orders to the Central Business District Storn
contracts.
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tax increment funds due to the Agency. 22
3) That the Housing and Redevelopment Commission hereby
that the Redevelopment Agency will repay this loan f
23 4) That the Redevelopment Commission hereby agrees to E
on the unpaid balance of the loan. 24
an annual interest rate of 10% to the City of Carlsk
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,. % 0 0
1 PASSED, APPROVED AND ADOPTED at a regular meeting of
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Housing and Redevelopment Commission of the City of Carlsba
AYES: Council "krs Casler, Lewis, Kulchin, Chick and Pett 5
following vote, to wit: 4
California, held on the 17th day of September, 1985, by thc
NOES: None
ABSTAIN: None
ABSENT : Nlne Lv de
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