HomeMy WebLinkAbout1979 119 CC RESO1979 119 CC RESO (Ìì í K RESOLUTION NO. 79-119
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BALDWIN PARK AUTHORIZING APPROPRIATION OF
FUNDS TO THE REDEVELOPMENT AGENCY ADMINISTRATIVE
FUND IN SUPPORT OF THE PUENTE-MERCED REDEVELOP-
MENT PROJECT
The City Council of the City of Baldwin Park does
hereby resolve as follows:
SECTION 1. That the Redevelopment Agency of the
City of Baldwin Park has formulated, prepared and approved a
Redevelopment Plan for the Puente-Merced Redevelopment Project.
SECTION 2. That the City Council by Ordinance No. 780,
dated the 16th day of August 1978, approved and adopted said
Redevelopment Plan for the Puente-Merced Redevelopment Project.
SECTION 3. That Resolution No. 74-109, adopted the
27th day of November, 1974, established a Redevelopment Agency
Administrative Fund for defraying expenses of the Agency in support
of the Redevelopment Projects.
SECTION 4. That the sum of Five Hundred Thousand
Dot 1ars $500,000.00) is hereby appropriated by the City Council
from the General Fund to the Spec inl Fund known as the
Redevelopment Aqency Adm i n i sLr.i t i vo Fund.
SECTION 5. Tha fc the C i t-y Trcn.surer is hereby authorized
and directed to pay from the Redevelopment Agency Admini strativc
Fund to the Redevelopment Agency Five Hundred Thousand Dollars
$500,000.00), 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 6. The above sum to be loaned to the Agency
shall be repaid, together with accrued interest of seven percent
7%) per annum, from proceeds of tax increments to undertake
the 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 7. This resolution shall take effect immediately
PASSF.D and ADOPTED this 2 Cs^ day of November 1979.
Mayor
ATTEST:
Thelma L. Balkus, City Clerk
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1979 119 CC RESO (Ìì í K Kf.ofution No. 79"119
i^aqe No. 2
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS:
CITY OF BALDWIN PARK
I, THELMA L. BALKUS, City Clerk or the City of Baldwin Park,
do hereby certify that the foregoing resolution was duly and regularly
approved and adopted by the City Council of the City of Baldwin Park
at its___________regular meeting of the City Council on the 21st
day of
November
1979 by the following vote:
AYES: COUNCILMEN Aguilar, McNeill, Izetl, King and Mayor White
NOES: COUNCILMEN
ABSTAIN: COUNCILMEN
ABSENT: COUNCILMEN
U^^/S^A
ThF_TMAT\ 13ALKUS, CITY CLERK
BIB]
37679-U01
1979-U02
119-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10500-U03
C6-U03
RESO-U03
2/26/2003-U04
ROBIN-U04