HomeMy WebLinkAbout2006-11-21; City Council; Resolution 2006-345Exhibit 4
1 RESOLUTION NO. 2006-345
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA ("CITY"), APPROVING AN
3 ADVANCE REPAYMENT AGREEMENT BETWEEN THE
CITY AND THE CARLSBAD PUBLIC FINANCING
AUTHORITY ("AUTHORITY")
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6 WHEREAS, the City has agreed to advance (and has advanced) funds to the
7 Authority from time to time for the purpose of designing, constructing, maintaining and
8 operating a municipal Golf Course; and
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WHEREAS, the Municipal Golf Course consists of an 18-hole golf course as well
10 as related facilities including a driving range, a clubhouse, a pro shop, and maintenance
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facilities; and
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WHEREAS, the City and the Authority mutually desire to make provisions for the
eventual repayment of the Advances with interest to the City.
15 NOW, THEREFORE, IT IS AGREED by and between the City Council of the City
16 of Carlsbad, California, and the Carlsbad Public Financing Authority as follows:
17 1. The City Council of the City of Carlsbad approves the Advance
1 Q0 Repayment Agreement, attached herein dated November 21, 2006, between the City
19 and the Authority.
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PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council
of the City of Carlsbad on the 21 st day of November, 2006, by the following vote:
AYES: Council Members Lewis, Hall, Kulchin, Packard
NOES: Council Member Sigafoose
ABSENT: None
ATTEST:
LORRAINE M. WOOD, City Clerk
(SEAL)