HomeMy WebLinkAbout1986-02-18; Housing & Redevelopment Commission; Resolution 631* a Q I'
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HOUSING AND REDEVELOPMENT COMMISSION
RESOLUTION NO. 063
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I REQUESTING A LOAN FORM THE CITY FOR THE
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A RESOLUTION OF THE HOUSING AND REDEVELOPMENT
COb!iMIssION OF THE CITY OF CARLSBAD, CALIFORNIA,
APPROVING DEBT OF THE REDEVELOPMENT AGENCY AND
NECESSARY FUNDS
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7 WHEREAS, the Housing and Redevelopment Commission o
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installation of rubberizing railway crossings on Elm and G 9
City of Carlsbad, California, has considered the necessity
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11 WHEREAS, the Housing and Redevelopment Commission IC
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1) That the Redevelopment Agency debt for installation 17
follows: 16
Redevelopment Commission of the City of Carlsbad, Californj 15
NOW, THEREFORE, BE IT RESOLVED, by the Housing and 14
Redevelopment Agency. 13
the installation of said crossings as acceptable expense tc
of rubberized railway crossings on Elm and Grand Ave
18 is hereby approved up to but not to exceed $43,221.4
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2) That the Housing and Redevelopment Commission hereby requests that the City Council of the City of Carlsk
loan the amount up to but not exceed $43,221.45 to t
Redevelopment Agency for the exclusive purpose of fu
the installation of rubberized railroad crossings on
Elm and Grand Avenues.
3) That the Housing and Redevelopment Commission hereby agrees that the Redevelopment Agency will repay this
from tax increment funds due the Agency.
4) That the Redevelopment Commission hereby agrees to pi
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annual interest rate of 10% to the City of Carlsbad f
the unpaid balance of the loan.
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5) That the Redevelopment Commission hereby agrees tha
PASSED, APPROVED AND ADOPTED at a regular meeting o
loan shall be fully amortized in 20 years. 2
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Housing and Redevelopment Commission of the City of Carlsb
following vote, to wit: 6
California, held on the 18th day of February, 1986, by the
7 AYES: Commissioners Casler, Lewis, Kulchin, and Chick
8 NOES:
ABSENT : None 9
Commissioner Pettine
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ABS TAI N : None
12 ATTEST :
$&e?. Jf; &&
MARY H., CASLER , Chai
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K!. Re ALETHA L. RAUTENKRANZ, City C1
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(SEAL)
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