HomeMy WebLinkAbout1981 119 CC RESO1981 119 CC RESO (Ìì ì ÎpeRESOLUTION NO. 81- 119
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF BALDWIN PARK AUTHORIZING
APPROPRIATION OF FUNDS TO THE
REDEVELOPMENT AGENCY 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 a Redevelopment Plan for the
West Ramona Boulevard Redevelopment Project.
SECTION 2. That the City Council by Ordinance approved and
adopted said Redevelopment Plan for the West Ramona Boulevard Project.
SECTION 3. That the Baldwin Park Redevelopment Agency has entered
into escrow to acquire the remaining Southern Pacific property within the
West Ramona Boulevard Redevelopment Project and is unable to dispose of a
portion of the property until June 1, 1982; and an advance of funds from
the City of Baldwin Park is required to dose the escrow with Southern
Pacific.
SECTION 4. That the sum of Four Hundred and Twenty-Five Thousand
Dollars $425,000) is hereby appropriated by the City Council from the
General Fund to the Special Fund known as the Redevelopment Agency Adminis-
trative 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 Four Hundred and Twenty-Five
Thousand Dollars $425,000); and 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.
SECTION 7. That this resolution shall take effect immediately.
SECTION 8. That the City Clerk shall certify to the adoption of
this Resolution.
APPROVED AND ADOPTED this 30th day of.0ecember, 1981.
w^?^^
MAYOR
ATTEST:
n^DA L. GAIRyClTY CLERK
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1981 119 CC RESO (Ìì ì ÎpeResolution No. 81-119
Page 2
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS:
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 and regularly approved and
adopted by the City Council of the City of Baldwin Park at its adjourned
regular meeting of the City Council on the 30th day of December, 1981, by
the following vote:
AYES- CnilNfILMFN Aguilar, McNeill, Holman King and Mayor White
NOES: COUNCILMEN None
ABSENT: COUNCILMEN None
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