HomeMy WebLinkAbout1989-5218
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RESOLUTION NO.
5218
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO APPROVING A LOAN AGREEMENT WITH THE SAN
BERNARDINO JOINT POWERS FINANCING AUTHORITY
WHEREAS, The Community Development Commission of the City
of San Bernardino (The "Agency"), under the provisions of the
California Community Redevelopment Law, is responsible to
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encourage and foster redevelopment in the Central City
Redevelopment Project Area; and
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WHEREAS, the Agency desires to engage in certain
redevelopment activities within the Project Area;
WHEREAS, the San Bernardino Joint Powers Financing
Authori ty (The "Authority") is authorized to provide financial
and other assistance to the Agency to promote the redevelopment
of the Redevelopment Project Area; and
WHEREAS, the Authority proposes to loan and the Agency
16 proposes to borrow Three Million, Five Hundred Thousand Dollars
17 ($3,500,000) pursuant to the "Loan Agreement", which is attached
18 hereto as Exhibit "A" and is incorporated herein by reference;
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NOW THEREFORE, the Agency does hereby find, determine,
20 order and resolve as follows:
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SECTION 1. The Loan Agreement is in the best interests of
the Agency and will promote the public health, safety and
23 welfare.
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SECTION 2.
The Loan Agreement is hereby approved and the
25 Executive Director is hereby authorized to execute the Loan
26 Agreement on behalf of the Agency.
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DAB/ses
December 6, 1989
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO APPROVING A LOAN AGREEMENT WITH THE SAN
BERNARDINO JOINT POWERS FINANCING AUTHORITY
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3 I HEREBY CERTIFY that the foregoing resolution was duly
4 adopted by the Community Development Commission of the City of
5 San Bernardino at a special meeting thereof, held on the 7th
6 day of December , 1989, by the following vote, to wit:
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AYES:
Commissioners ESTHER ESTRADA, JACK REILLY, JESS FLORES
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MICHAEL MAUDSLEY, TOM MINOR, VALERIE POPE-LUDLAM, NORINE M LLE
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NAYS:
NONE
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ABSENT:
NONE
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Secr- "I;ary ft
The foregoing resolution is
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this 7th
day
of
December
, 1989.
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t Community
Commission of the
Bernardino
Approved as to form
and legal content:
BY:~
/Agency nsel
DAB/ses
December 5, 1989
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