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CITY OF SAN BERQRDINO - REQUEST ~ COUNCIL ACTION
From:
Kenneth J. HeOOerscn, Dimctor
f'nnmIlI'lity Devel~jL
Subject:
rx:x:umrIM'ICl'l PtlR SMALL
IDSINESS I!WI FUND DISBmsE-
MI!Nl'S
Oept:
Om: March 8, 1989
Synopsis of Previous Council action:
On Febroary 20, 1989, the Mayor and 0..... 11'\ Cam:::il adc.pted a resolution
cq:pk.\Ning a smalll::usiness loan in the aDD.II1t: of $35,000 to Design by M:n:Je.
Racommended motion:
'!hat the city Clerk be directed to provide to the Dimctor of Finance
n.v.""""ltation of the actial taken by the Mayor and n......, Cam:::il in OOill.....Ual
with the Design by ~ small bJsiness loan ~icatial, which st.ipI11"ted that
the disOOrseIIIent of loan ~. ~.. will be administeJ:ed by the f'nnmInti.t.Y.
Devel~,L DeiparbDent for accounts .payable only and that invoices
made out to the vendor will be paid by the City.
cc: Jim Robbins
Jim Richardson
Phone:
5065
Supporting data attached:
Ward:
1
FUNDING REQUIREMENTS:
Amount:
N/A
Source: (Acct. No.) N/A
(Acct. DescriDtionl
N/A
Finance:
Council Notes:
~~
~ITY' OF SAN BERt&..DINO - REQUEST -'dR COUNCIL ACTION
STAFF REPORT
on F'ebrual:y 20, 1989, the Mayor ani 0 ..... "1 Oamcil ~ a small hlsiness
loan in the 8IID.1I1t of $35,000 for Design by M:n;Je brida1 shql. '!be action
taken by the Mayor ani 0..... ., Oamcil iJxll.\Ded the followin;J sripllaticn:
". . .Also, the disb1rsement of the loan proo-r'I'" to the creditors
to be ocntroll.ed by the ChllTnrlity Devel~lt Department. SUch
payments will be made directly to the BUJ.:Pliersjverdw.. by the
Department" .
SUbsec;pJent to loan closin;J, staff began to l-JL";: - payment nq.JeSts for
imividual M:n;Je BUJ.:PliersjverWxs. '!be oi.rect:ar of Fi.nalXle irdi.cated that
in order to adequately SllW01t the finan:::ia1 transacti.a1s for m::m.torin;J ani
amitin;J pnpcses, clocl""'"'ltatial of the loan oc:n1itial described abaIIe
sha1ld be provided to the Fi.nalXle Department in \.lUlll-..tia1 with the subject
loan.
I reo:- ....-. d adc:pti.a1 of the fcmn JDCti.cn.
KlH/lab/3113
March 8, 1989