HomeMy WebLinkAboutCC Res 3225 1982-11-08
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RESOLUTION NUMBER .5.2;2~
A RESOLUTION OF THE CITY OF SEAL BEACH, CALIFORNIA
RECORDING INDEBTEDNESS OF THE SEAL BEACH REDEVELOP-
MENT AGENCY TO THE CITY OF SEAL BEACH IN THE AMOUNT
OF $401,919 FOR CASH ADVANCED THROUGH JUNE 30, 1982.
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS, the Seal Beach Redevelopment Agency has suffered greatly
reduced tax increment since the passage of Proposition 13,
the Jarvis initiative; and
WHEREAS, the revenues of the Seal Beach Redevelopment Agency 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 City Council of the City of
Seal Beach finds that the aforementioned sum of $401,919, t0gether with
interest on $182,531 of such $401,919 at the rate of twelve (12%) percent
per annum is owed to the City by the Seal Beach Redevelopment Agency and
further resolves to pursue payment of such sum from the Redevelopment
Agency.
PASSED, APPROVED AND ADOPTED by the City C~~jl of th
Beach at a meeting thereof held on the ~~ day of
1982 by the following vote'
AYES: Councilmembe
NOES: Counci 1 member
ABSENT: Councilmembers
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