HomeMy WebLinkAboutReso 1979-9518~,~,r 4'~ .r u
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RESOLUTION N0. 9518
as (follows:
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AUTHORIZING A LOAN TO THE REDEVELOPMENT
AGENCY FOR BAYFRONT PROJECT AREA EXPENSES
The City Council of the City of Chula Vista does hereby resolve
WHEREAS, the Redevelopment Agency has requested that the City
to n the Agency the sum of $350,000.00 for Bayfront Project Area expenses.
NOkJ, THEREFORE BE IT RESOLVED by the City Council of the City
of Chula Vista that the City hereby loans the sum of $350,000 from the City
Ge eral fund to the Bayfront Project fund on the following terms and conditions:
1. Said loan, including interest due thereon, shall be repaid
on or before June 30, 1979.
meat project area.
2. Said loan shall bear interest at the rate of 10% per annum.
3. Said loan shall be an indebtedness of the Bayfront Redevelop-
4. Said loan shall be repaid from Bayfront Project Area tax
in rement revenues paid to the Redevelopment Agency pursuant to Health & Safety
Co e 33670.
BE IT FURTHER RESOLVED that the Finance Director be authorized
to transfer $350,000 from the General fund reserves (fund 100) to the Bayfront
Re evelopment Project fund (fund 241).
Prdsented
~ra ~ u. °~~esrocners,
De elopment Director
Approved as to form by
unity George D indberg, City Attorney
ADOPTED AND APPROVED 8Y THE CITY COUNCIL OF THE CITY OF
CHULA
197 9
AYES
NAYES~
ABSTAI
A'
STATE
CITY OF
CALIFORNIA, this sth day of March
by the following vote, to-wit:
COUnCllmen Egdahl, Hyde, Gillow, Scott, Cox
Councilmen None
Councilmen None
Councilmen None
City
CALIFORNIA )
OF SAN DIEGO ) s s .
;HULA VISTA )
~'G.~
Mayor of the City of Chula Vista
I, JENNIE M. FULASZ, CMG, CITY CLERK of the City of Chula Vista, California,
DO
BY CERTIFY that the above and foregoing is a full, true and correct copy of
,and that the same has not been amended or repealed.
DATE D
(seal) City Clerk
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