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Home My WebLink About1981 098 CC RESO1981 098 CC RESO(Ììð RESOLUTION NO. 81-98 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BALDWIN PARK AUTHORIZING APPROPRIATION OF FUNDS TO THE REDEVELOPMENT AGENCY TO ESTABLISH A REVOLVING FUND TO SUPPORT REDEVELOPMENT ACTIVITIES WITHIN THE CITY OF BALDWIN PARK 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 Redevelopment Plans for the Puente-Merced, San Gabriel River and West Ramona Boulevard Redevelopment Projects. SECTION 2. That the City Council by Ordinances, approved and adopted said Redevelopment Plans for the Puente- Merced, San Gabriel River and West Ramona Boulevard Projects. 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 Dollars $500,000.00) is hereby appropriated by the City Council from the General Fund to the Special Fund known as the Redevelopment Agency Administrative Fund. SECTION 5. That the City Treasurer is hereby authorized and directed to pay from the Redevelopment Agency Administrative Fund to the Redevelopment Agency Revolving Fund the sum of Five Hundred 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 6. The above sum to be loaned to the Agency shall be repaid, together with accrued interest of fifteen percent 15%) per annum, from proceeds of tax increments from the West Ramona Boulevard and San Gabriel River Redevelopment Project Areas, or from any other funds which may become legally available to the Agency for repayment to the City. SECTION 7. This resolution shall take effect immediately. PASSED and ADOPTED this 7th/day of October, 1981. Mayor v ATTEST: El?ida L. feair, y^ity Clerk BIB] 37679-U01 1981-U02 098-U02 CC-U02 RESO-U02 LI3-U03 FO2126-U03 FO10414-U03 DO10718-U03 C6-U03 RESO-U03 2/27/2003-U04 ROBIN-U04 1981 098 CC RESO(Ììð Resolution No. 81-98 STATE OF CALIFORNIA COUNTY OF LOS ANGELES)°é’Ã CITY OF BALDWIN PARK I. LINDA L. GAIR. City Clerk of the City of Baldwin Park, do h•¡ÐÊ·'certify that the foregoing Resolution was duly and regularly approved and adopted by the ³ºÁÑîDouncil of the City of Baldwin Park at its regular meeting of the City Council on the 7th ~Êˆ¡a October, 1981, by the following vote: AYES: COUNCILMEN KING, AGUILAR, HOLMAN, McNEùœâ„îFND MAYOR)WHITE______ NOES: COUNCILMEN NONE ABSENT: COUNCILMEN NONE BIB-] ¥Ä47679-U01 1981-U02 098-U02 CC-U02 RESO-U02 LI3-U03 FO2126-U03 FO10414-U03 DO10718-U —¢1-U03 RESO-U03 2/27/2003-U04 ROBIN-U04