HomeMy WebLinkAbout1989-5221
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RESOLUTION NO. 5221
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 Northwest
Redevelopment Project Area; and
WHEREAS, the Agency desires to engage in certain
redevelopment activities within the Project Area;
WHEREAS, the San Bernardino Joint Powers Financing
Authority (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 Eight Hundred Seventy-five Thousand Dollars
17 ($875,000) pursuant to the "Loan Agreement", which is attached
IS 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
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Community Development Commission of the City of
San Bernardino at a special meeting thereof, held on the 7th
day of December , 1989, by the following vote, to wit:
AYES: Commissioners ESTHER ESTRADA, JACK REILLY, JESS FLORES
MICHAEL MAUDSLEY, TOM MINOR, VALERIE POPE-LUDLAM,
NORINE MILLER.
NAYS: NONE
ABSENT: NONE
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Sec et r.
The foregoing resolution is hereby approv~his
Der.emher , 1989. /
7th
day
of
of the
Approved as to form
and legal content:
BY:~
/Agency C nsel
DAB/ses
December 6, 1989
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