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RESOLUTION NO. 87-37
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UKIAH
AUTHORIZING LOAN TO UKIAH REDEVELOPMENT AGENCY - 1987
WHEREAS, the Ukiah City Council created a Redevelopment Agency in 1975
pursuant to Health and Safety Code Sections 33000 et seq., and
WHEREAS, it is necessary that the Agency continue operation with
planning activities and funds are not available until said planning is
completed and a plan implemented, and
WHEREAS, Section 33610 of the Health and Safety Code authorizes the
City to loan to the Agency money necessary to cover administrative and
specific expenses, and
WHEREAS, the Agency has identified a need for $50,000 for a
Redevelopment Plan and Environmental Impact Report (EIR), legal and finan-
cial counsel for redevelopment within the City.
NOW, THEREFORE, IT IS HEREBY RESOLVED that the City Council authorizes
and directs the Director of Finance of the City of Ukiah to make available
to the Redevelopment Agency up to $50,000 from the General Fund of the City.
The Director of Finance shall follow the procedures in administering these
funds as set forth in the Health and Safety Code Section 33613. These funds
shall be used to pay operating expenses for the Redevelopment Agency.
BE IT FURTHER RESOLVED that the funds hereby provided to the Agency are
made available on a loan basis with interest at 10.0% (ten percent) per
annum and shall be repaid to the City of Ukiah as soon as feasible.
PASSED AND ADOPTED this 21st day of January, 1987 by the following roll
call vote:
AYES: Councilmembers Schneiter, Shoemake~Hickey, Kier,/~d Mayor Henderson
NOES: None ~.-~-"~.~/
~><b MAYOR
ATTEST: ~z~.~ !~
/ ?~-CLERK