HomeMy WebLinkAbout1993 118 CC RESO1993 118 CC RESO (Ìì ´ Ã RESOLUTION NO. 93-118
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BALDWIN PARK, CALIFORNIA, APPROVING A
FINANCING AGREEMENT BETWEEN THE CITY OF
BALDWIN PARK AND THE BALDWIN PARK
REDEVELOPMENT AGENCY
WHEREAS, the City of Baldwin Park City") is a
municipal corporation and general law city of the State of
California; and
WHEREAS, the Baldwin Park Redevelopment Agency
Agency is a public body, corporate and politic, organized and
existing under the California Community Redevelopment Law CRL")
Health & Safety Code 33000 et seq.); and
WHEREAS, Agency and City on July 2, 1986, by Ordinance
No. 947 of the City Council of the City, established the Sierra
Vista Project Area Project Area"); and
WHEREAS, Agency contemplates acquisition of certain real
property within the Project Area; and
WHEREAS, Agency desires to obtain a loan from City to
permit the Agency to fund its contemplated acquisition of such real
property; and
WHEREAS, Agency is authorized by Health & Safety Code
Sections 33600 and 33601 to borrow money and to enter into
agreements with public agencies, including the City, for that
purpose; and
WHEREAS, City and Agency staff have proposed a Financing
Agreement between the City and Agency in the total amount of THREE
HUNDRED TWENTY THOUSAND DOLLARS $320,000), plus interest accruing
at the rate of interest, applicable as of the effective date of the
Financing Agreement, that is paid to the City for its investments
with the Local Agency Investment Fund; and
WHEREAS, the CRL, at Health & Safety Section 33600 et
seg., authorizes the transactions as set forth in the proposed
Financing Agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Baldwin Park that the Financing Agreement Agreement")
between the City and Agency effecting and documenting the loan by
the City to the Agency in the total principal amount of THREE
HUNDRED TWENTY THOUSAND DOLLARS $320,000), a copy of which
Agreement is on file in the office of the City Clerk, and which
Agreement is incorporated herein by reference, is hereby approved.
PASSED, APPROVED AND ADOPTED this 3rd day of November,
1993.
FIDEL A. VARGAS
ATTEST:
CITY CLERK
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1993 118 CC RESO (Ìì ´ Ã RESOLUTION NO. 93-118
PAGE TWO
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) 55.
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin
Park, do hereby certify that the foregoing Resolution was duly
passed and adopted by the City Council of the City of Baldwin Park,
at a regular meeting thereof, held on November 3, 1993, by the
following vote:
AYES: COUNCILMEN GALLEGOS. MARTINEZ. MCNEILL MAYOR VARGAS
NOES: COUNCILMEN NONE
ABSTAIN: COUNCILMEN NONE
ABSENT: COUNCILMEN IZELL
CITY CLERK
BIB]
37650-U01
1993-U02
118-U02
CC-U02
RESO-U02
LI3-U03
FO1126-U03
FO1127-U03
DO1629-U03
C6-U03
RESO-U03
10/10/2001-U04
ADMIN-U04
RESO-U05
93-118-U05
NOV-U05
3-U05
1993-U05