HomeMy WebLinkAboutRDA Res 82-14 1982-11-08
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RESOLUTION NUMBER ~~~J'~
A RESOLUTION OF THE REDEVELOPt1ENT AGENCY OF THE CITY
OF SEAL BEACH, CALIFORNIA, RECORDING INDEBTEDNESS OF
THE AGENCY TO THE CITY OF SEAL BEACH IN THE AMOUNT
OF $401,919 FOR CASH ADVANCED THROUGH JUNE 30, 1982.
THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS, the Redevelopment Agency of the City of Seal Beach has suffered
greatly reduced tax increment since the passage of Proposition
13, the Jarvis initiative; and
WHEREAS, the revenues of the Redevelopment Agency of the City of Seal
Beach were insufficient to cover its expenditures for the fiscal
year ended June 30, 1982; and
WHEREAS, the audited financial stateMents of the Agency for the year
ended June 30, 1982, show a cash advance of $401,919 from the
City of Seal Beach.
NOW, THEREfORE, BE IT RESOLVED that the Redevelopment Agency of the City
of Seal Beach finds that the foregoing sum of $401,919 is owed to the City
of Seal Beach, and further resolves to repay this sum from future resources
of the Redevelopment Agency, together with interest on $182,531 of such
$401.919 at the rate of twelve (12%) percent per annum.
PASSED, APPROVED and ADOPTED by the Redevelopme~~2ency of
Sea 1 Beach at a meeti ng thereof hel d on the t!... - da'y 0
1982 by the following vote:
AYES: Agency Membe
NOES: Agency Member
ABSENT: Agency Member
ATTEST:
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