HomeMy WebLinkAboutReso 1990-15629 RESOLUTION NO. 15629
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA
APPROPRIATING FUNDS FOR OTAY VALLEY ROAD PHASE II (NIRVANA
AVENUE TO EASTERN CITY LIMITS) FEASIBILITY/FINANCING STUDY
The City Council of the City of Chula Vista does hereby resolve as
follows:
WHEREAS, Chillingworth is proposing to advance all funds associated with
their project and once the special assessment district is formed and the bonds
sold, the City will need to reimburse Chillingworth for the monies advanced
and the Redevelopment Agency may also be reimbursed from the sale of bonds, and
WHEREAS, the City, therefore, needs to enter into a reimbursement
agreement with the Chillingworth Corporation which agreement is before Council
for approval, and
WHEREAS, the total cash necessary to pay for these services has been
either appropriated by the Redevelopment Agency or advanced by the
Chillingworth Corporation with the exception of $11,250 which is the City's
portion of the cost needed to perform the feasibility study for Phase II
(Nirvana Avenue to the Eastern City Limits), and
WHEREAS, the funds are proposed to be appropriated from the General Fund
and may be reimbursed should the project be included in the transportation DIF
program, and
WHEREAS, all costs associated with Otay Rio Business Park will be paid by
the Chillingworth Corporation and the Redevelopment Agency has already
appropriated the funds needed for Otay Lakes Road Phase I (996-9960-ST123), and
WHEREAS, however, additional funds in the amount of $11,250 need to be
appropriated from the unappropriated balance of the General Fund as a loan to
the Otay Valley Project.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby appropriate $11,250 from the unappropriated balance of the
General Fund to the deposit account for the Otay Valley Road Assessment
District.
Presented by Approved as to form by
· ' D. RiChard Rudo~
Resolution No. 15629
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula
Vista, California, this 22nd day of May, 1990 by the following vote:
AYES: Councilmembers: Malcolm, McCandliss, Moore, Nader, Cox
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
'~Cox~,'Mayo~
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO } ss.
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do
hereby certify that the foregoing Resolution No. 15629 was duly passed,
approved, and adopted by the City Council of the City of Chula Vista,
California, at a regular meeting of said City Council held on the 22rid day of
May, 1990.
Executed this 22rid day of May, 1990.
Beverly ~' AGthelet, City'Clerk