HomeMy WebLinkAboutReso 1969-5211RESOLUTION NO. 5211
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA
AUTHORIZING THE FINANCE OFFICER OF SAID CITY TO SEEK COM-
PETITIVE BIDS FOR THE LOAN OF THE SUM OF ONE MILLION DOLLARS
The City Council of the City of Chula Vista does hereby resolve
as follows:
WHEREAS, the City of Chula Vista is a local agency within the
meaning of Section 53850 et seq,of the Government Code of the State
of California and is authorized thereby to borrow funds for any pur-
pose for which it is authorized to expend monies, and
WHEREAS, funds are needed to meet the immediate requirements
of the City of Chula Vista including but not limited to the payment
of current expenses, capital expenditures, i.e., construction of
the police facility and the discharge of any obligations or indebted-
ness of said City, and
WHEREAS, the City Council has determined that it is necessary
to borrow funds for such purposes in a total amount of a loan of
One Million Dollars ($1,000,000.00) and to seek competitive bids
therefor, and
WHEREAS, the Charter of the City of Chula Vista contains no
provision therein which would prohibit the exercise of the powers
set forth in Section 53850 et seq, of the Government Code of the
State of California.
NOW, THEREFORE, BE IT RESOLVED that the finance officer of
the City of Chula Vista be, and he is hereby authorized and directed
to seek competitive bids for the purpose of obtaining a loan as set
forth hereinabove to be secured by a negotiable note payable on or
before June 30, 1970 from taxes, income, revenue, cash receipts or
other. monies of the City of Chula Vista to be received during the
fiscal year of 1969-1970.
Presented by
Approved as to arm by
0
William L,~fSullins, Chief Adminis-
trative ficer Pro Tempore
eorge D.~indberg, City Atto
A.DO~T??P A"'D ~.PPR(?VF'D by the CITY COLT~TCIL of the CITv ~~, C:'.L L~ ~'I`~ I'E=,
CALIFOR-IA. this _ 27th da_y of May , 1° 69 b~~ the follc-;~in~r ~~o~<-~,
t0-~Jit:
A~'F": Councilmen. Sylvester, Hamilton, McAllister, Scott
:'~AY_-;~ : Councilmen None
~~`~,'"''': Councilmen McCorquodale
°:ayor/ of the City or C'_~ul ''-;~ta
pro tem
. ~~
~. ~ 7
tv Cler?:
T ATE C:? CALL F(1RPd IA )
C(`J1;I' ~'F SA- DL'?GO ) ss .
C r T~' O F CHULA JI ~ TA )
i, r'~T?I;ET': ?. CAS°`.PI~FLL, City Clerk of the City of Chula ~Jista., Cal_ ~,, ,_~:a,
PC ?'~~,RL'~'.' CFpTIFY that the above and foregoiro is a full, true and corr_~_ coo- ~,~i
and that the same has not t~e~~ a._-<_:-~d~d
or r-~n~aled,
AT~l'
City C1er=:
~~' ,~~ ~ ~