HomeMy WebLinkAbout1985-07-30; City Council; Resolution 81241
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RESOLUTION NO. 8124
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING A LOAN TO THE
REDEVELOPMENT AGENCY FOR A MARKET FEASIBILITY
STUDY OF THE REDEVELOPMENT AREA AND AUTHORIZING TRANSFER OF FUNDS
WHEREAS, the City Council of the City of Carlsbad, California,
ias considered the request for a loan up to but not exceed
;57,490 to the Redevelopment Agency for the purpose of a market
.easibility study; and
WHEREAS, the City Council of the City of Carlsbad, California,
)as ascertained that the market feasibility study is acceptable
tebt of the Redevelopment Agency;
NOW, THEREFORE, be it resolved, by the City Council of
:he City of Carlsbad, California, as follows:
-. A loan up to but not to exceed $57,490 to the Redevelopment
Agency is hereby approved for the sole purpose of a market
feasibility study.
?. The Redevelopment Agency shall agree to repay the loan
from tax increment at an annual interest rate of 10%.
3. The Finance Director is hereby authorized and directed
to make the transfer of funds.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the
:ity Council of the City of Carlsbad, California on the 30th day
If July , 1985, by the following vote, to wit:
AYES: Council Wrs Casler, Lewis, Kulchin, Chick and Pettine
NOES: None
ABSTAIN: None
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ABSENT :
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MARY H. SLER, Mayor
( SEAL 1
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