HomeMy WebLinkAbout83-43 General fund loan !
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RESOLUTION NO. 83-43
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
UKI.ati ALrI'HORIZING LOAN TO UKIAH REDEVELO~NT AGENCY
I~{E~AS, the Ukiah City Council created a Redevelopment Agency in 1975
pursuant to Health and Safety Code Sections 33000 et seq., and
I~REAS, it is necessary that the Agency continue operation with preliminary
planning and funds are not available until said planning is completed and a
plan implemented, and
¥~dERFAS, Section 33610 of the Health and Safety Code authorizes the City to
loan to the Agency money necessary to cover administrative and specific ex-
uenses, and
WHEREAS, the Agency has identified a need for approximately $10,000 for
economic analysis and feasibility studies for the Redevelopment Plan.
NOW, THEREFORE, IT IS ~REBY RESOLVED that City Council authorizes and
directs the Director of Finance of the City of Ukiah to make available to the
Redevelopment Agency the sum of $10,000 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 consultants for economic and feasibility studies and no new
obligations shall be incurred unless authorized by the City Council.
BE IT FURTHER RESOLVED that the funds hereby given to the Agency are made
available on a loan basis with interest at 10% per annum and shall be repaid
to the City of Ukiah as soon as feasible.
PASSED ,kN]3ADOPTED this 2nd day of February, 1983 by the following roll
AYES:
Councilmembers Kelley, Hickey, Myers, Feibusch
None
None
call vote: