HomeMy WebLinkAbout1984-08-21; Housing & Redevelopment Commission; Resolution 41b
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RESOLUTION NO. 041 -
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA
APPROVING DEBT OF THE REDEVELOPMENT AGENCY AND
REQUESTING A LOAN FROM THE CITY FOR THE
NECESSARY FUNDS
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6 WHEREAS, the Housing and Redevelopment Commission of
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of Carlsbad has considered the necessity for installation
stormdrain in the Redevelopment Area; and
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the construction of said s.tormdrain as acceptable expense
Redevelopment Agency.
12 NOW, THEREFORE, be it resolved, by the Housing and
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Redevelopment Commission of the City of Carlsbad, Californ
follows:
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1. That the Redevelopment Agency debt for construct
of the Central Business Stormdrain is hereby app
up to but not to exceed $802,125.00.
2. That the Housing and Redevelopment Commission he
requests that the City Council of the City of Ca
loan the amount up to but not to exceed $802,125 the Redevelopment Agency for the exclusive purpo
funding the installation of the Central Business
District Stormdrain.
3. That the Housing and Redevelopment Commission he
agrees that the Redevelopment Agency will repay
loan from tax increment funds due the Agency.
4. That the Redevelopment Commission hereby agrees
an annual interest rate of 10% to the City of Ca
on the unpaid balance of the loan.
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PASSED, APPROVED AND ADOPTED at a regular meeting of ’
Housing and Redevelopment Commission on the 21st day of z! -
1984, by the following vote, to wit:
AYES : Carmissioners Casler, LRwis , Kulchin and Prescott
NOES: Wne
ABSENT : Cmnissioner Chick
ATTEST: c MARY CAS; R, Chairper
akQ- ALETHA L. RAUTENKRANZ, City
(Seal)
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