HomeMy WebLinkAboutRDA Res 02-5 Not Adopted
RESOLUTION NO. f},2 ...~
A RESOLUTION OF THE REDEVELOPMENT
AGENCY OF THE CITY OF SEAL BEACH
ACCEPTING A LOAN FROM THE CITY OF
SEAL BEACH IN THE AMOUNT OF $95,000.00
THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH
DOES HEREBY RESOLVE:
I
WHEREAS, The Redevelopment Agency is reviewing various proposals to allow for
the dissolution of tlJe Redevelopment Agency of tlJe City of Scal Beach
upon compliance witIJ all applicable provisions of the California HealtIJ
and Safety Code; and
WHEREAS,
the Redcvelopment Agency does not have sufficient un-obligated funds
available to support the necessary consultant, staff, and legal expenscs
necessary to determine iftlJe dissolution oftlJe Redevelopment Agency of
the City of Seal Beach is legally feasible and to determine the necessary
steps to accomplish such dissolution; and
WHEREAS,
the General Fund Unobligated Fund Balance has sufficient funds available
to lend $ 95,000 to tlJe Redevelopment Agency of the City of Seal Beach;
and
WHEREAS, the Seal Beach City Council will be considering thc autIJorization of said
loan in the amount of $ 95,000 to the Redevelopment Agency of the City
of Scal Beach on October 28, 2002 through tlJe adoption of City Council
Resoiution No. ; and
I
WHEREAS, the Redevelopment Agency of the City of Seal Beach will have tlJe ability
to repay a loan oU 95,000 plus 5% simple interest by June 30, 2017.
NOW, THEREFORE BE IT RESOLVED tlJat the Redevelopment Agency of tlJe
City of Seal Beach hereby agrees to acccpt from the City of Seal Beach the sum of
Ninety-Five Thousand Dollars ($95,000.00) from tlJe City of Seal Beach General Fund
Unobligated Fund Balance, effectivc November I, 2002. This debt to tlJe City of Seal
Beach is hereby recorded and tlJe foregoing sum shall be repaid to the City of Seal Beach
on or before June 20, 2017 togetlJer with simple intercst of 5% per annum, subject to City
Council adoption of Resolution No. . A Resolution of tlJe City Council of the City
of Seal Beach Authorizing a Loan to tlJe Seal Beach Redevelopment Agency in the
Amount of$ 95,000.
PASSED, APPROVED AND ADOPTED by the Redevelopment Agency of the
City of Seal Beach at a meeting tlJereof held on the day of
,2002.
AYES: Agencymembers I
NOES: Agencymembers
ABSENT: Agencymembers
ABSTAIN: Agencymembers
~
Chairman
Resolution Number
ATTEST:
/'"
City Clerk
I STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
p.2~,,-
I, Joanne M. Yeo, City Clerk of Seal Beach, California, do hereby certify that tile foregoing
resolution is tile original copy of Resolution Number _ _ on file in the office of
tile City Clerk, passed, approved, and adopted by tile Redevelopment Agency of tile City of
Seal Beach; at a regular meeting tIIereof held on tile day of
,2002.
~
Joanne M. Yeo, City Clerk/Secretary
Seal Beach Redevelopment Agency
I
I