HomeMy WebLinkAbout1976 080 CC RESO1976 080 CC RESO ;¢fì ö +peRESOLUTION NO. 76-80
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BALDWIN PARK AUTHORIZING APPROPRIATION
TO THE REDEVELOPMENT AGENCY ADMINISTRATIVE
FUND AND DIRECTIMG TRANSFER OF CERTAIN
MONIES AS A LOAN TO THE BALDWIN PARK
REDEVELOPMENT AGENCY.
WHEREAS, the City Council of the City of Baldwin Park has
established the Baldwin Park Redevelopment Agency pursuant to
Section 33000 et seq. of the California Health and Safety Code
Community Redevelopment Law); and
WHEREAS, the City Council in Resolution No. 76-25 designated
the Northwest Industrial Area as a survey area; and
WHEREAS/ the City Council also therein authorized and
directed the Redevelopment Agency to study said area and determine its
feasibility for redevelopment; and
WHEREAS, the City Council loaned to the Redevelopment Agency
the sum of sixteen thousand dollars to carry out said studies; and
WHEREAS, a preliminary report titled Preliminary 1976
Northwest Industrial Development Study" has been completed; and
WHEREAS, in-depth planning, environmental and economic
studies are required in order to make a final determination of
feasibility for redevelopment of the area; and
WHEREAS, additional funding is necessary to cover consultant
costs for said studies.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Baldwin Park:
SECTION 1: Appropriate the sum of Sixty Thousand Dollars
from the General Fund to the Redevelopment Agency Administrative
Fund.
SECTION 2: Authorize and direct the City Treasurer to pay
from the Redevelopment Agency Administrative Fund to the Redevelopment
Agency Sixty Thousand Dollars. Said amount is to be considered a
loan to the Agency and to be repaid in accordance with the terms and
conditions set forth herein.
SECTION 3: The above sum to be loaned to the Agency shall
be repaid, together with accrued interest of seven 7) percent per
annum, from proceeds of bonds issued to undertake a redevelopment
project, or from any other funds which may become legally available
to the Agency for repayment to the City. If no funds become available
for such purposes, then the monies loaned and accrued interest need
not be repaid.
SECTION 4: This Resolution shall take effect immediately.
PASSED AND ADOPTED THIS 23rd day of September, 1976.
v-" Errimit'R. Waldo
Mayor
ATTEST:
r3^3^
Thelma L. Balkus, City Clerk
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1976 080 CC RESO ;¢fì ö +peResolution No> 76-80
Page Two
STATE OF CALIFORNIA
COUNTY OF LOS ANGEIiES SS
CITY OF BALDWIN PARK
I, THELMA L. BALKUS, City Clerk of the City of Baldwin Park,
do hereby certify that the foregoing Resolution was duly and
regularly passed and adopted by the City Council of the City of
Baldwin Park at a special meeting held on the 23rd day of September,
1976, by the following vote:
AYES: COUNCILMEN HAMILTON, KITCHEL, AGUILAR AND MAYOR WALDO
NOES: COUNCILMEN
ABSENT: COUNCILMEN BLEWETT
THELMA L. BALKUS, CITY CLERK
BIB]
37685-U01
1976-U02
080-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO11012-U03
DO11023-U03
C6-U03
RESO-U03
3/4/2003-U04
ROBIN-U04