HomeMy WebLinkAbout1986-07-15; Housing & Redevelopment Commission; Resolution 75r II 0 II)
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RESOLUTION NO. 075 -
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT CO~Is
OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING DEBT
OF THE REDEVELOPMENT AGENCY AND REQUESTING A LOAN FR THE CITY FOR THE NECESSARY FUNDS.
WHEREAS, the Housing and Redevelopment Commission o
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changes to the construction contract on the Central Busine 7
the City of Carlsbad, California, has considered the neces
District Storm Drain; and 8
9 WHEREAS, the Housing and Redevelopment Commission I
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these change order necessitate additional cost which are
acceptable expenses to the 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:
15 1) That the Redevelopment Agency debt €or change ordel
the construction contract on the Central Business s 16 Drain is hereby approved in the amount of $67,301.:
17 2) That the Housing and Redevelopment Commission here1
requests that the City of Carlsbad loan the amount 18
change orders to the Central Business District Stol
$67,301.57 to the Redevelopment Agency for the necc
19 contract.
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3) That the Housing and Redevelopment Commission here1
4) That the Redevelopment Commission hereby agrees to
21 that the Redevelopment Agency will repay this loan
demand from tax increment funds due to the Agency.
an annual interest rate of 10% to the City of Carl, 23
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the unpaid balance of the loan.
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I 1 PASSED, APPROVED AND ADOPTED at a regular meeting o
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vote, to wit: 4
California, held on the 15th day of July, 1986, by the fol 3
Housing and Redevelopment Commission of the City Of Carlsb
5 AYES: Commissioners Casler, Lewis, Kulchin, Chick and Pett,
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NOES: None
ABSTAIN : None
8 ABSENT: None
g ATTEST:
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(SEAL)
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