HomeMy WebLinkAbout1984-08-21; City Council; 7853; LOAN TO REDEVELOPMENT AGENCY FOR CENTRAL BUSINESS DISTRICT STORMDRAIN AND TRANSFER OF FUNDSThe Agency agrees to repay this loan from tar:
an annual interest rate of 10%. Funds for appropriated in the General Capital Construc
FISCAL IMPACT
The City will loan the Redevelopment Agency
exceed $802,125 which will be paid back at ar.
rate of 10%.
EXHIBITS
1 - Resolution No. 7711 APPROVING loan to the
and authorizing transfer of funds. c, w > 0 cr e e <
.. z 0 F 0 4
$ z 3 0 0
increment funds at
this loan are current :ion Fund.
~p to but not to
annual interest
Redevelopment Agen
* LA
RESOLUTION NO.
1. A loan up to but not to exceed $
Redevelopment Agency is hereby a
purpose of constructing a Centra
Stormdrain.
for the sol€
ess District
to make the transfer of funds.
-
NOES: None
ABSENT: Council Mmkr Chick