HomeMy WebLinkAboutRDA Reso 2002-1764
RESOLUTION NO. 1764
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA APPROPRIATING $698,000 FROM THE
UNAPPROPRIATED FUND BALANCE IN THE MERGED
PROJECT AREA FOR REPAYMENT OF OUTSTANDING
ADVANCES FROM THE GENERAL FUND IN THE AMOUNT OF
$556,687.95 AND RELATED INTEREST IN THE AMOUNT OF
$141,312.05.
WHEREAS, the Redevelopment Agency, from time to time as funds are available, repays the
General Fund for previous debt owed; and
WHEREAS, this action uses currently-available Redevelopment Agency resources in the
Merged Project Area to repay a portion of the prior outstanding debt.
NOW, THEREFORE, BE IT RESOLVED the Redevelopment Agency of the City of Chula
Vista does hereby appropriate funds in the amount of $698,000 from the unappropriated fund
balance in the merged project area for repayment of outstanding advances from the General Fund.
BE IT FURTHER RESOLVED that $556,687.95 of such appropriation constitutes a reduction
in the principal balance of the outstanding balance of the outstanding General Fund debt, and
$141,312.05 constitutes a payment of interest.
Presented by
Approved,as to form by
~~~-
Chris Salomone -
Director of Community Development
Resolution No. 1764
Page 2
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, CALIFORNIA this 15th day of January, 2002 by the following vote:
AYES:
Members Davis, Padilla, Rindone, Salas, and Chair/Mayor Horton
NOES:
None
ABSENT:
None
ABSTENTIONS:
None
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Shirley Hort
Chairman
ATTEST:
&.~~
Chris Salomone
Executive Secretary
STATE OF CALIFORNIA)
COUNTY OF SAN DIEGO) ss:
CITY OF CHULA VISTA)
I, Chris Salomone, Executive Secretary to the Redevelopment Agency of the City of Chula Vista,
California DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution No.
1764 and that the same has not been amended or repealed.
Dated: January 15, 2002
~~
Chris Salomone
Executive Secretary