HomeMy WebLinkAbout04-Public Services
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CITY OF SAN BERNARDINO
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- REQUEST FOR COUNCIL ACTION
From: Manuel P. Moreno, Jr., Director of
Public Services
Dept: Public Services
Subject: Encroachment fee for utility
lane closure
Date: 12-Q6-89
Synopsis of Previous Council action:
None
Recommended motion:
1. ~That further reading of said ordinance be waived and said ordinance
be adopted.
2. Adopt Resolution.
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Signature
Contact person:
Manuel P. Moreno, Jr.
Phone:
384-5140
Supporting data attached: Ordinance and Resolution
Ward:
All
FUNDING REOUIREMENTS:
Amount: N/A
Source: (Acct. No.)
(Acct. DescriPtion)
Finance:
Council Notes:
^"'''''I'''''.,('' 1+.......... P\.I^
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ORDINANCE NO.
AN URGENCY ORDINANCE OF THE CITY OF SAN BERNARDINO ADDING
SECTION 12.04.055 TO THE SAN BERNARDINO MUNICIPAL CODE RELATING
TO AN ENCROACHMENT FEE FOR UTILITY LANE CLOSURE
THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO
DO ORDAIN AS FOLLOWS:
SECTION 1.
Section 12.04.055 is hereby added to the San
Bernardino Municipal Code to read as follows:
"12.04.055 Encroachment fee for utility lane closure
The Mayor and Common Council of the City of San Bernardino
may impose a fee for encroachments for utility lane closures.
Such fee shall not apply between the hours of six o'clock p.m.
and six o'clock a.m. or on weekends or legal holidays."
SECTION 2.
This ordinance is an urgency ordinance
necessary for the immediate preservation of the public health,
safety and welfare in order to protect the traffic safety of the
citizens or San Bernardino, by encouraging those utilities which
need to make street encroachments to do such work at hours of
lesser traffic congestion. When heavy traffic is required to use
fewer lanes than the normal design provides, the chance of
accidents and injuries are greatly increased, and therefore the
performance of such work during off hours will increase the
health and safety of the citizens of the City of San Bernardino.
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1 AN URGENCY ORDINANCE OF THE CITY OF SAN BERNARDINO ADDING
SECTION 12.04.055 TO THE SAN BERNARDINO MUNICIPAL CODE RELATING
2 TO AN ENCROACHMENT FEE FOR UTILITY LANE CLOSURE
3 I HEREBY CERTIFY that the foregoing ordinance was duly
4 adopted by the Mayor and Common Council of the City of San
5 Bernardino at a meeting thereof, held on the
6 day of , 1989, by the following vote, to wit:
7 AYES: Council Members
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9
NAYS:
ABSENT:
City Clerk
The foregoing ordinance is hereby approved this
day
of
, 1989.
W.R. Holcomb, Mayor
18 Ci ty of San Bernardino
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19 Approved as to form
and legal content:
JAMES F. PENMAN,
City Attorney
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DAB/ses
December 5, 1989
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1 RESOLUTION NO.
2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO ESTABLISHING A ENCROACHMENT FEE FOR UTILITY LANE
3 CLOSURE
4 BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
5 OF SAN BERNARDINO AS FOLLOWS:
6
SECTION 1.
An encroachment fee for utility lane closure
7 is hereby imposed in the amount of Fifty Dollars ($50.00l per
8
hour with a one hour minimum.
No fee shall be charged or
9 required for closure between six o'clock p.m. and six o'clock
10 a.m. or on weekends or legal hOlidays.
11 I HEREBY CERTIFY that the foregoing resolution was duly
12 adopted by the Mayor and Common Council of the City of San
13 Bernardino at a meeting thereof, held on the
14 day of , 1989, by the following vote, to wit:
15 AYES: Commissioners
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NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
W. R. Holcomb, Mayor of the
City of San Bernardino
24 Approved as to form
and legal content:
25
James F. Penman,
26 City Attorney
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DAB/ses
December 5, 1989
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RESOLUTION NO.
RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, APPROVING A LOAN AGREEMENT WITH THE COMMUNITY
DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
3
4 WHEREAS, Pursuant to the Community Development Law of the
5 State of California, the Community Development Commission of the
6 City of San Bernardino (the "Agency"), is responsible to
7 encourage and foster redevelopment in the Central City
8 Redevelopment Project Area; and
9
WHEREAS, The Agency desires to engage in certain
10 redevelopment activitity within the project area; and
11 WHEREAS, the Authority is authorized to provide financial
12 and other assistance to the Agency to promote the redevelopment
13 of the Redevelopment Project Area; and
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15
WHEREAS, the Authority proposes to loan and the Agency
proposes to borrow three million, five hundred thousand dollars
16 ($3,500,000) pursuant to the "Loan Agreement", a copy of which is
17 attached hereto as Exhibit" A" and is incorporated herein by
18 reference;
19 NOW THEREFORE, the Authority does hereby find, determine,
21
20 order and resolve as follows:
SECTION 1.
The Loan Agreement is in the best interests
22 of the Authority and will promote the public health, safety and
23 welfare.
24
SECTION 2.
The Loan Agreement is hereby approved and
25 the Chairman is authorized to execute the Agreement on behalf of
26 the Authority.
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SECTION 3.
This resolution is rescinded if the parties
DAB/ses
December 5, 1989
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RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, APPROVING A LOAN AGREEMENT WITH THE COMMUNITY
DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
2
3 to the agreement fail to execute it within sixty (60) days of the
4 passage of this resolution.
5 I HEREBY CERTIFY that the foregoing resolution was duly
6 adopted by the San Bernardino Joint Powers Financing Authority
7
at a
meeting thereof, held on the
day of
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9
, 1989, by the following vote, to wit:
AYES:
Members
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
W.R. Holcomb, Chairman
San Bernardino Joint Powers
Financing Authority
Approved as to form
and legal content:
BY:~)
/Authority ounsel
DAB/ses
December 5, 1989
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LOAN AGREBMBN'l'
(AUTHORITY TO AGBNCY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
Safety Code, Section 33610) and other law authorizes the
Authority to loan money to the Agency for administrative expenses
and overhead of the Agency; and
B.
WHEREAS, the Authority desires to assist the Agency in
its responsibility of redevelopment of the Central City
Redevelopment Project Area; and
C.
WHEREAS, the Agency and the Authority desire to
17 facilitate the redevelopment of the Project Area consistent with
18 the Redevelopment Plan; and
D.
WHEREAS, the Agency, pursuant to the Redevelopment
20 Plan and provisions of the Community Redevelopment Law (Health &
21 Safety Code Section 33000, et seq.) is authorized to borrow funds
22 to facilitate redevelopment; and
23
E.
WHEREAS, no other reasonable means of financing such
24 administrative expenses is available;
25 NOW THEREFORE, the Authority and the Agency agree as
26 follows:
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DAB/ses
December 6, 1989
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1. The Authority agrees to loan Three Million, Five
Hundred Thousand Dollars ($3,500,000) to the Agency on or before
December 8, 1989.
The Agency shall, in consideration of such
loan, be obligated to pay to the Authority the amount of Three
Million, Five Hundred Thousand Dollars ($3,500,000) (the "Loan
Amount"), plus interest accruing at the lesser of (i) eight
percent (8%) or (ii) the maximum interest rate that may lawfully
be paid by a redevelopment agency: on or before December 8, 1990,
provided that at the option of the Authority said loan may be
extended for successive one year periods: provided that the
Authority agrees and acknowledges that such Loan Amount shall be
repaid as soon as economically feasible only from (i) tax
allocation revenues of the Project and (ii) such tax allocation
revenues as may hereafter be generated within the Project Area
and received by the Agency. The Agency shall have no obligation
16 to make payment from any other revenues.
17
2. The obligations of the Agency pursuant to Section 1 of
18 this Agreement shall constitute the indebtedness of the Project.
19 The obligation of the Agency to make payments pursuant to this
20 Agreement shall be subordinate and subject to Section 33334.2 of
21 the Health & Safety Code and to the right of the Agency to pledge
22 or commit tax allocations from the Project Area to repay bonds or
23 other indebtedness incurred by the Agency in carrying out the
24 Redevelopment Plan (and such redevelopment plan as may hereafter
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become applicable to the Project Area).
The Agency agrees to
26 file statements of indebtedness setting forth such obligation
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until such time as the Loan Amount (together with accrued
DAB/ses
December 6, 1989
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interest) has been paid in full.
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3.
The Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
ATTEST:
By:
Secretary
Approved as to form
and legal content:
The Community Development
Commission of the City of
San Bernardino
B~)
A thorit Counsel-
By:
Acting Executive Director
Approved as to form
and legal content:
B~
. ency unsel
DAB/ses
December 6, 1989
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RESOLUTION NO.
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
encourage and foster redevelopment in the Central City
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 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;
19 NOW THEREFORE, the Agency does hereby find, determine,
20 order and resolve as follows:
21
SECTION 1. The Loan Agreement is in the best interests of
22 the Agency and will promote the public health, safety and
23 welfare.
24
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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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
2
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
6
day of
, 1989, by the following vote, to wit:
7
AYES:
Commissioners
8
9
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
Approved as to form
and legal content:
Chairman of the Community
Development Commission of the
City of San Bernardino
B~"J
gency nse1
DAB/ses
December 5, 1989
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LOAN AGRBBMENT
(AUTHORITY TO AGENCY)
TRIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
Safety Code, Section 33610) and other law authorizes the
Authority to loan money to the Agency for administrative expenses
and overhead of the Agency; and
B.
WHEREAS, the Authority desires to assist the Agency in
its responsibility of redevelopment of the Central City
Redevelopment Project Area; and
C.
WHEREAS, the Agency and the Authority desire to
17 facilitate the redevelopment of the Project Area consistent with
18 the Redevelopment Plan; and
19
D.
WHEREAS, the Agency, pursuant to the Redevelopment
20 Plan and provisions of the Community Redevelopment Law (Health &
21 Safety Code Section 33000, et seq.) is authorized to borrow funds
22 to facilitate redevelopment; and
23
E.
WHEREAS, no other reasonable means of financing such
24 administrative expenses is available;
25 NOW THEREFORE, the Authority and the Agency agree as
26 follows:
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DAB/ses
December 6, 1989
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1. The Authority agrees to loan Three Million, Five
Hundred Thousand Dollars ($3,500,000) to the Agency on or before
December 8, 1989.
The Agency shall, in consideration of such
loan, be obligated to pay to the Authority the amount of Three
Million, Five Hundred Thousand Dollars ($3,500,000) (the "Loan
Amount"), plus interest accruing at the lesser of (i) eight
percent (8%) or (ii) the maximum interest rate that may lawfully
be paid by a redevelopment agency; on or before December 8, 1990,
provided that at the option of the Authority said loan may be
extended for successive one year periods; provided that the
Authority agrees and acknowledges that such Loan Amount shall be
repaid as soon as economically feasible only from (i) tax
allocation revenues of the Project and (ii) such tax allocation
revenues as may hereafter be generated within the Project Area
and received by the Agency. The Agency shall have no obligation
16 to make payment from any other revenues.
17
2. The obligations of the Agency pursuant to Section 1 of
18 this Agreement shall constitute the indebtedness of the Project.
19 The obligation of the Agency to make payments pursuant to this
20 Agreement shall be subordinate and subject to Section 33334.2 of
21 the Health & Safety Code and to the right of the Agency to pledge
22 or commit tax allocations from the Project Area to repay bonds or
23 other indebtedness incurred by the Agency in carrying out the
24 Redevelopment Plan (and such redevelopment plan as may hereafter
25
become applicable to the Project Area).
The Agency agrees to
26 file statements of indebtedness setting forth such obligation
27
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until such time as the Loan Amount (together with accrued
DAB/ses
December 6, 1989
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interest) has been paid in full.
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The Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
ATTEST:
By:
Secretary
Approved as to form
and legal content:
By: 4/W"-,,,'}j/2.,;- )
p.~;;1t7c~j
The Community Development
Commission of the City of
San Bernardino
By:
Acting Executive Director
Approved as to form
and legal content:
B~
Agency unsel
DAB/ses
December 6, 1989
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LOAN AGREEMENT
(AUTHORITY TO AGENCY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
Safety Code, Section 33610) and other law authorizes the
Authority to loan money to the Agency for administrative expenses
and overhead of the Agency; and
B.
WHEREAS, the Authority desires to assist the Agency in
its responsibility of redevelopment of the Central City
Redevelopment Project Area; and
C.
WHEREAS, the Agency and the Authority desire to
17 facilitate the redevelopment of the Project Area consistent with
18 the Redevelopment Plan; and
19
D.
WHEREAS, the Agency, pursuant to the Redevelopment
20 Plan and provisions of the Community Redevelopment Law (Health &
21 Safety Code Section 33000, et seg.) is authorized to borrow funds
22 to facilitate redevelopment; and
23
E.
WHEREAS, no other reasonable means of financing such
24 administrative expenses is available;
25 NOW THEREFORE, the Authority and the Agency agree as
26 follows:
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December 6, 1989
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1. The Authority agrees to loan Three Million, Five
Hundred Thousand Dollars ($3,500,000) to the Agency on or before
December 8, 1989.
The Agency shall, in consideration of such
loan, be obligated to pay to the Authority the amount of Three
Million, Five Hundred Thousand Dollars ($3,500,000) (the "Loan
Amount"), plus interest accruing at the lesser of (i) eight
percent (8%) or (ii) the maximum interest rate that may lawfully
be paid by a redevelopment agency; on or before December 8, 1990,
provided that at the option of the Authority said loan may be
extended for successive one year periods; provided that the
Authority agrees and acknowledges that such Loan Amount shall be
repaid as soon as economically feasible only from (i) tax
13 allocation revenues of the Project and (ii) such tax allocation
14
15
revenues as may hereafter be generated within the Project Area
and received by the Agency. The Agency shall have no obligation
16 to make payment from any other revenues.
2. The obligations of the Agency pursuant to Section 1 of
this Agreement shall constitute the indebtedness of the Project.
The obligation of the Agency to make payments pursuant to this
Agreement shall be subordinate and subject to Section 33334.2 of
the Health & Safety Code and to the right of the Agency to pledge
or commit tax allocations from the Project Area to repay bonds or
other indebtedness incurred by the Agency in carrying out the
Redevelopment Plan (and such redevelopment plan as may hereafter
become applicable to the Project Area).
The Agency agrees to
26 file statements of indebtedness setting forth such obligation
27
28
until such time as the Loan Amount (together with accrued
DAB/ses
December 6, 1989
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interest) has been paid in full.
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3.
The Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
ATTEST:
By:
Secretary
Approved as to form
and legal content:
The Community Development
Commission of the City of
San Bernardino
B~)
Authori Counsel
By:
Acting Executive Director
Approved as to form
and legal content:
BY:~/
./Agency unsel
DAB/ses
December 6, 1989
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RESOLUTION NO.
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RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, AUTHORIZING THE EXECUTION OF A LOAN AGREEMENT WITH THE
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
WHEREAS, pursuant to the Community Development Law of the
5 State of California, (Health & Safety Code Section 33000, et
6 seq.), the Redevelopment Agency of the City of San Bernardino
7 (the" Agency") is carrying out the Redevelopment Plan for the
8 State College Redevelopment Project (the "Project Area"); and
9
WHEREAS, the Agency is authorized to invest funds not
10 immediately necessary for the implementation of the Redevelopment
11 Plan; and
12 WHEREAS, the Agency and the Authority desire to promote
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13 redevelopment in the downtown area of the City of San Bernardino;
15
and
WHEREAS, the redevelopment of the downtown area would
16 address blighting influences within the vicintity of the Project
17 Area and throughout the City, and would substantially benefit the
18 Project Area and the community; and
19
WHEREAS, in order to effectuate the provisions of the
20 Redevelopment Plan, the Agency proposes to loan and the Authority
21 proposes to borrow Three Million, Five Hundred Thousand Dollars
22 ( $3, 500,000) pursuant to that "Loan Agreement", a copy 9f which
23 is attached hereto as Exhibit "A" and is incorporated herein by
24 reference;
25 NOW THEREFORE, the Authority does hereby find, determine,
26 order and resolve as follows:
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SECTION 1.
The loan of funds pursuant to the Loan
DAB/ses
December 5, 1989
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RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, AUTHORIZING THE EXECUTION OF A LOAN AGREEMENT WITH THE
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
2
3 Agreement is in the best interests of the Authority and will
4 promote the public health, safety and welfare.
5
SECTION 2.
The Chairman is hereby authorized to execute
6 the Loan Agreement on behalf of the Authority.
7
SECTION 3.
This resolution is rescinded if the parties
8 to the agreement fail to execute it within sixty (60) days of the
9 passage of this resolution.
10 I HEREBY CERTIFY that the foregoing resolution was duly
12
11 adopted by the San Bernardino Joint Powers Financing Authority
at a special meeting thereof, held on the
day of
,
13 1989, by the following vote, to wit:
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AYES:
Members
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
Approved as to form
and legal content:
W.R. Holcomb, Chairman
San Bernardino Joint Powers
Financing Authority
B~
Authorit ounsel
DAB/ses
December 5, 1989
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LOAN AGREEMENT
(AGENCY TO AUTHORITY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The " Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A. WHEREAS. the Community Redevelopment Law (Health &
Safety Code, Section 33610) authorizes redevelopment agencies to
invest any money held in reserves or sinking funds, or any money
not required for immediate disbursement, in property or
securities; and
B. WHEREAS. there are presently available to the Agency
funds generated by the State College Redevelopment Project (the
"Project"), which may be invested; and
C. WHEREAS. the Authority desires to borrow funds from
the Agency;
NOW THEREFORE, the Authority and the Agency agree as
follows:
1. The Agency agrees to loan Three Million. Five Hundred
Thousand Dollars ($3,500,000) to the Authority on or before
December 8, 1989. The Authority shall, in consideration of such
loan, be obligated to pay to the Agency the amount of Three
Million, Five Hundred Thousand Dollars ($3.500.000) (the "Loan
Amount"), plus interest accruing at the lesser of (i) eight
percent (8%) or (ii) the maximum interest rate that may lawfully
DAB/ses
December 6, 1989
1
.cx;',b,;- '1/"
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-.
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
.
.
.
be paid by a Authority on or before December 8, 1990 provided
that at the option of the Agency said loan may be extended for
successive one year periods.
2.
This Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
ATTEST:
By:
W.R. Holcomb, Chairman
By:
Secretary
Approved as to
form and legal content:
James F. Penman,
City Attorney
Community Development Commission
of the City of San Bernardino
BY:~
v1'uthorit Counsel
By:
W.R. Holcomb, Chairman
16 ATTEST:
17
18
19
20
21
22
23
24
25
26
27
28
By:
Secretary
Approved as to
form and legal content:
BY:~d/1_)
..Agency C nsel
DAB/ses
December 6, 1989
2
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12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
"
~
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1
RESOLUTION NO.
2
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF A LOAN
AGREEMENT WITH THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY
3
4
5
6
WHEREAS, pursuant to the Community Development Law of the
State of California, (Health & Safety Code Section 33000, et
~), the Redevelopment Agency of the City of San Bernardino
7
8
9
(the "Agency") is carrying out the Redevelopment Plan for the
State College Redevelopment Project (the "Project Area"); and
WHEREAS, the Agency is authorized to invest funds not
immediately necessary for the implementation of the Redevelopment
Plan; and
WHEREAS, the Agency and the Authority desire to promote
redevelopment in the downtown area of the City of San Bernardino;
and
WHEREAS, the redevelopment of the downtown area would
address blighting influences within the vicinity of the Project
Area and throughout the City, and would substantially benefit the
Project Area and the community; and
WHEREAS, in order to effectuate the provisions of the
Redevelopment Plan, the Agency proposes to loan and the
Authority proposes to borrow Three Million, Five Hundred
Thousand Dollars ($3,500.000) pursuant to that "Loan Agreement",
a copy of which is attached hereto as Exhibit "A" and is
incorporated herein by reference;
NOW THEREFORE, the Community Development Commission of the
City of San Bernardino hereby resolves as follows:
/
/
/
DAB/ses
December 5, 1989
1
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e
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15
16
17
18
19
20
21
22
23
24
25
26
27
28
.
.
.
1
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF A LOAN
AGREEMENT WITH THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY
2
3
SECTION 1.
The loan of funds pursuant to the Loan
4
5
Agreement is in the best interest of the Agency and will promote
6
7
8
9
the public health, safety and welfare.
SECTION 2. The Executive Director is hereby authorized to
execute the Loan Agreement on behalf of the Agency.
10
SECTION 3. This Resolution is rescinded if the parties to
the Agreement fail to execute it within sixty (60) days of the
passage of this resolution.
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
day of
, 1989, by the fOllowing vote, to wit:
AYES:
Commissioners
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
Approved as to form
and legal content:
B~
Agency unse1
Chairman of the Community
Development Commission of the
City of San Bernardino
DAB/ses
December 5, 1989
2
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e
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.
1
2
3
4
5
6
7
8
9
LOAN AGREEMBN'l'
(AGENCY TO AUTHORITY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
10 Safety Code, Section 33610) authorizes redevelopment agencies to
11 invest any money held in reserves or sinking funds, or any money
12 not required for immediate disbursement, in property or
13 securities; and
14
15
B. WHEREAS, there are presently available to the Agency
funds generated by the State College Redevelopment Project (the
16 "Project"), which may be invested; and
17
C.
WHEREAS, the Authority desires to borrow funds from
18 the Agency;
19 NOW THEREFORE, the Authority and the Agency agree as
20 follows:
21
1.
The Agency agrees to loan Three Million, Five Hundred
22 Thousand Dollars ($3,500,000) to the Authority on or before
23 December 8, 1989. The Authority shall, in consideration of such
24 loan, be obligated to pay to the Agency the amount of Three
25 Million, Five Hundred Thousand Dollars ($3,500,000) (the "Loan
26 Amount"), plus interest accruing at the lesser of (i) eight
27
28
percent (8%) or (ii) the maximum interest rate that may lawfully
DAB/ses
December 6, 1989
1
Exh,IJ,,- 'A"
.
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
.
"
i
.
.
.
be paid by a Authority on or before December 8, 1990 provided
that at the option of the Agency said loan may be extended for
successive one year periods.
2.
This Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
ATTEST:
By:
W.R. Holcomb, Chairman
By:
Secretary
Approved as to
form and legal content:
James F. Penman,
City Attorney
BY:~
...)[U horit Counsel
Community Development Commission
of the City of San Bernardino
By:
W.R. Holcomb, Chairman
16 ATTEST:
17
.
18
19
20
21
22
23
24
25
26
27
28
By:
Secretary
Approved as to
form and legal content:
By: ,,@~,'-02.1(1J},. j
.A,gency !:frise1
DAB/ses
December 6, 1989
2
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21
~
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1
2
3
4
5
6
7
8
9
10
11
12
LOAN AGREEMENT
(AGENCY TO AUTHORITY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
Safety Code, Section 33610) authorizes redevelopment agencies to
invest any money held in reserves or sinking funds, or any money
not required for immediate disbursement, in property or
13 securities; and
14
15
B. WHEREAS, there are presently available to the Agency
funds generated by the State College Redevelopment Project (the
16 "Project"), which may be invested; and
17
C.
WHEREAS, the Authority desires to borrow funds from
18 the Agency;
19 NOW THEREFORE, the Authority and the Agency agree as
20 follows:
1.
The Agency agrees to loan Three Million, Five Hundred
22 Thousand Dollars ($3,500,000) to the Authority on or before
23 December 8, 1989. The Authority shall, in consideration of such
24 loan, be obligated to pay to the Agency the amount of Three
25 Million, Five Hundred Thousand Dollars ($3,500,000) (the "Loan
26 Amount" ), plus interest accruing at the lesser of (i) eight
27
28
percent (8%) or (ii) the maximum interest rate that may lawfully
DAB/ses
December 6, 1989
1
.
.
.
.
17
18
19
20
21
22
23
24
25
26
27
28
~
1
2
3
4
5
6
7
8
9
.
.
be paid by a Authority on or before December 8, 1990 provided
that at the option of the Agency said loan may be extended for
successive one year periods.
2.
This Agreement shall be effective as of the day and
date first above shown.
ATTEST:
10
11
12
13
14
15
By:
Secretary
Approved as to
form and legal content:
James F. Penman,
City Attorney
B~~RaJ
Authori Counsel
16 ATTEST:
By:
Secretary
Approved as to
form and legal content:
BY:~~)
./Agency C nsel
DAB/ses
December 6, 1989
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
Community Development Commission
of the City of San Bernardino
By:
W.R. Holcomb, Chairman
2
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.
.
19
20
21
22
23
24
25
26
27
28
.
.
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
RESOLUTION NO.
RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, AUTHORIZING THE EXECUTION OF A LOAN AGREEMENT WITH THE
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
WHEREAS, pursuant to the Community Development Law of the
State of California, (Health & Safety Code Section 33000, et
~), the Redevelopment Agency of the City of San Bernardino
(the "Agency") is carrying out the Redevelopment Plan for the
State College Redevelopment Project (the "Project Area"); and
WHEREAS, the Agency is authorized to invest funds not
immediately necessary for the implementation of the Redevelopment
Plan; and
WHEREAS, the Agency and the Authority desire to promote
redevelopment in the northwest area of the City of San
Bernardino; and
WHEREAS, the redevelopment of the northwest area would
16 address blighting influences within the vicintity of the Project
17 Area and throughout the City, and would substantially benefit the
18 Project Area and the community; and
WHEREAS, in order to effectuate the provisions of the
Redevelopment Plan, the Agency proposes to loan and the Authority
proposes to borrow Eight Hundred Seventy-five Thousand Dollars
($875,000) pursuant to that "Loan Agreement", a copy of which is
attached hereto as Exhibit" A" and is incorporated herein by
reference;
NOW THEREFORE, the Authority does hereby find, determine,
order and resolve as follows:
SECTION 1.
The loan of funds pursuant to the Loan
DAB/ses
December 6, 1989
1
R-- ';A
..-
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.
.
.
.
.
.
1
2
RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, AUTHORIZING THE EXECUTION OF A LOAN AGREEMENT WITH THE
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
3 Agreement is in the best interests of the Authority and will
4 promote the public health, safety and welfare.
5
SECTION 2.
The Chairman is hereby authorized to execute
6 the Loan Agreement on behalf of the Authority.
7
SECTION 3.
This resolution is rescinded if the parties
8 to the agreement fail to execute it within sixty (60) days of the
9 passage of this resolution.
10 I HEREBY CERTIFY that the foregoing resolution was duly
11 adopted by the San Bernardino Joint Powers Financing Authority
12
at a special meeting thereof, held on the
day of
,
13 1989, by the fOllowing vote, to wit:
14
15
16
17
18
19
20
21
AYES:
Members
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
22 W.R. Holcomb, Chairman
San Bernardino Joint Powers
23 Financing Authority
Approved as to form
24 and legal content:
25
26
27
28
BY:~)
/Author y Counsel
DAB/ses
December 5, 1989
2
tit
tit
tit
.
.
.
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
LOAN AGREEMENT
(AGENCY TO AU'l'HORITY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the " Agency" ) .
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
Safety Code, Section 33610) authorizes redevelopment agencies to
invest any money held in reserves or sinking funds, or any money
not required for immediate disbursement, in property or
securities, and
B.
WHEREAS, there are presently available to the Agency
funds generated by the State College Redevelopment Project (the
16 "Project"), which may be invested, and
17
c.
WHEREAS, the Authority desires to borrow funds from
18 the Agency,
19 NOW THEREFORE, the Authority and the Agency agree as
20 follows:
21
1.
The Agency agrees to loan Eight Hundred Seventy-five
22 Thousand Dollars ($875,000) to the Authority on or before
23 December 31, 1989. The Authority shall, in consideration of such
24 loan, be obligated to pay to the Agency the amount of Eight
25 Hundred Seventy-five Thousand Dollars ($875,000) (the "Loan
26 Amount"), plus interest accruing at the lesser of (i) eight
27
28
percent (8%) or (ii) the maximum interest rate that may lawfully
DAB/ses
December 6, 1989
1
lEy, l"b,r .~.
.
,
II
I
i
,
1 I
I
,
2 I
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
e
e
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.
.
be paid by a Authority on or before December 31, 1990 provided
that at the option of the Agency said loan may be extended for
successive one year periods.
2. This Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
ATTEST:
By:
W.R. Holcomb, Chairman
By:
Secretary
Approved as to
form and legal content:
James F. Penman,
City Attorney
Community Development Commission
of the City of San Bernardino
By:
W.R. Holcomb, Chairman
ATTEST:
By:
Secretary
Approved as to
form and legal content:
B~
Agency unsel
DAB/ses
December 6, 1989
2
Ey'/",b,r ",1\"
I
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.
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
.
.
.
1
2
3
4
5
RESOLUTION NO.
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF A LOAN
AGREEMENT WITH THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY
WHEREAS, pursuant to the Community Development Law of the
61
State of California, (Health & Safety Code Section 33000, et
~), the Redevelopment Agency of the City of San Bernardino
(the "Agency") is carrying out the Redevelopment Plan for the
State College Redevelopment Project (the "Project Area"); and
WHEREAS, the Agency is authorized to invest funds not
immediately necessary for the implementation of the Redevelopment
Plan; and
WHEREAS, the Agency and the Authority desire to promote
redevelopment in the northwest area of the City of San
Bernardino; and
WHEREAS, the redevelopment of the northwest area would
address blighting influences within the vicinity of the Project
Area and throughout the City, and would substantially benefit the
Project Area and the community; and
WHEREAS, in order to effectuate the provisions of the
Redevelopment Plan, the Agency proposes to loan and the
Authority proposes to borrow Eight Hundred Seventy-five Thousand
Dollars ($875,000) pursuant to that "Loan Agreement", a copy of
which is attached hereto as Exhibit "A" and is incorporated
herein by reference;
NOW THEREFORE, the Community Development Commission of the
City of San Bernardino hereby resolves as follows:
/
/
/
DAB/ses
December 6, 1989
1
~,~
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.
.
.
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
.
.
.
1
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF A LOAN
AGREEMENT WITH THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY
2
3
4
SECTION 1.
The loan of funds pursuant to the Loan
5
6
Agreement is in the best interest of the Agency and will promote
the public health, safety and welfare.
SECTION 2. The Executive Director is hereby authorized to
7
execute the Loan Agreement on behalf of the Agency.
SECTION 3. This Resolution is rescinded if the parties to
the Agreement fail to execute it within sixty (60) days of the
passage of this resolution.
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
day of
, 1989, by the following vote, to wit:
AYES:
Commissioners
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
Chairman of the Community
Development Commission of the
City of San Bernardino
25 Approved as to form
and legal content:
26
27
28
BY:~
figency C nsel
DAB/ses
December 5, 1989
2
e
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.
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
LOAN AGREEMENT
(AGENCY TO AUTHORITY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by' and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
Safety Code, Section 33610) authorizes redevelopment agencies to
invest any money held in reserves or sinking funds, or any money
not required for immediate disbursement, in property or
securities; and
B. WHEREAS, there are presently available to the Agency
funds generated by the State College Redevelopment Project (the
16 "Project"), which may be invested; and
17
C.
WHEREAS, the Authority desires to borrow funds from
18 the Agency;
19 NOW THEREFORE, the Authority and the Agency agree as
20 fOllows:
21
1.
The Agency agrees to loan Eight Hundred Seventy-five
22 Thousand Dollars ($875,000) to the Authority on or before
23 December 31, 1989. The Authority shall, in consideration of such
24 loan, be obligated to pay to the Agency the amount of Eight
25 Hundred Seventy-five Thousand Dollars ($875,000) (the "Loan
26 Amount"), plus interest accruing at the lesser of (i) eight
27
28
percent (8%) or (ii) the maximum interest rate that may lawfully
DAB/ses
December 6, 1989
1
r!"i..h.r ',iJ"
.
e
e
e
17
18
19
20
21
22
23
24
25
26
27
28
.
.
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
be paid by a Authority on or before December 31, 1990 provided
that at the option of the Agency said loan may be extended for
successive one year periods.
2. This Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
ATTEST:
By:
W.R. Holcomb, Chairman
By:
Secretary
Approved as to
form and legal content:
James F. Penman,
City Attorney
Community Development Commission
of the City of San Bernardino
By: ~~h)
"Au horit ounsel
By:
W.R. Holcomb, Chairman
16 ATTEST:
By:
Secretary
Approved as to
form and legal content:
BY:~.t4JJ
./Agency C nsel
DAB/ses
December 6, 1989
2
E"'/',b,r A"
e
e
e
.
.
.
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
LOAN AGREEMENT
(AGENCY TO AUTHORITY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
Safety Code, Section 33610) authorizes redevelopment agencies to
invest any money held in reserves or sinking funds, or any money
not required for immediate disbursement, in property or
securities; and
B. WHEREAS, there are presently available to the Agency
funds generated by the State College Redevelopment Project (the
16 "Project"), which may be invested; and
17
C.
WHEREAS, the Authority desires to borrow funds from
18 the Agency;
19 NOW THEREFORE, the Authority and the Agency agree as
20 follows:
21
1.
The Agency agrees to loan Eight Hundred Seventy-five
22 Thousand Dollars ($875,000) to the Authority on or before
23 December 31, 1989. The Authority shall, in consideration of such
24 loan, be obligated to pay to the Agency the amount of Eight
25 Hundred Seventy-five Thousand Dollars ($875,000) (the "Loan
26 Amount"), plus interest accruing at the lesser of (i) eight
27
28
percent (8%) or (ii) the maximum interest rate that may lawfully
DAB/ses
December 6, 1989
1
.
.
.
.
17
18
19
20
21
22
23
24
25
26
27
28
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
.
.
be paid by a Authority on or before December 31, 1990 provided
that at the option of the Agency said loan may be extended for
successive one year periods.
2.
This Agreement shall be effective as of the day and
date first above shown.
ATTEST:
By:
Secretary
Approved as to
form and legal content:
James F. Penman,
City Attorney
B~MJ..J
Authorit Counsel
16 ATTEST:
By:
Secretary
Approved as to
form and legal content:
B~/
Agency nsel
DAB/ses
December 6, 1989
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
Community Development Commission
of the City of San Bernardino
By:
W.R. Holcomb, Chairman
2
.
e
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. !
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
RESOLUTION NO.
RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, APPROVING A LOAN AGREEMENT WITH THE COMMUNITY
DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
WHEREAS, Pursuant to the Community Development Law of the
State of California, the Community Development Commission of the
City of San Bernardino (the "Agency"), is responsible to
encourage and foster redevelopment in the Northwest
Redevelopment Project Area; and
WHEREAS, The Agency desires to engage in certain
redevelopment activitity within the project area; and
WHEREAS, 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
proposes to borrow eight hundred seventy-five thousand dollars
16 ($875,000) pursuant to the "Loan Agreement", a copy of which is
17 attached hereto as Exhibit" A" and is incorporated herein by
18 reference;
19 NOW THEREFORE, the Authority does hereby find, determine,
21
20 order and resolve as follows:
SECTION 1.
The Loan Agreement is in the best interests
22 of the Authority and will promote the public health, safety and
23 welfare.
24
SECTION 2.
The Loan Agreement is hereby approved and
25 the Chairman is authorized to execute the Agreement on behalf of
26 the Authority.
27
28
SECTION 3.
This resolution is rescinded if the parties
DAB/ses
December 6, 1989
1
t"~e
.
.
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.
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
.
.
.
1
RESOLUTION OF THE SAN BERNARDINO JOINT POWERS FINANCING
AUTHORITY, APPROVING A LOAN AGREEMENT WITH THE COMMUNITY
DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO.
2
3 to the agreement fail to execute it within sixty (60) days of the
4 passage of this resolution.
5 I HEREBY CERTIFY that the foregoing resolution was duly
6 adopted by the San Bernardino Joint Powers Financing Authority
7
at a
meeting thereof, held on the
day of
8
9
, 1989, by the following vote, to wit:
AYES:
Members
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
W.R. Holcomb, Chairman
San Bernardino Joint Powers
Financing Authority
Approved as to form
and legal content:
B~
Authorit Counsel
DAB/ses
December 5, 1989
2
e
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1
2
3
4
5
6
7
8
9
LOAN AGREEMBN'l'
(AUTHORITY TO AGENCY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
10 Safety Code, Section 33610) and other law authorizes the
11 Authority to loan money to the Agency for administrative expenses
12 and overhead of the Agency; and
13
B.
WHEREAS, the Authority desires to assist the Agency in
14 its responsibility of redevelopment of the Northwest
15
16
Redevelopment Project Area; and
C.
WHEREAS, the Agency and the Authority desire to
17 facilitate the redevelopment of the Project Area consistent with
18 the Redevelopment Plan; and
19
D.
WHEREAS, the Agency, pursuant to the Redevelopment
20 Plan and provisions of the Community Redevelopment Law (Health &
21 Safety Code Section 33000, et seg.) is authorized to borrow funds
22 to facilitate redevelopment; and
23
E.
WHEREAS, no other reasonable means of financing such
24 administrative expenses is available;
25 NOW THEREFORE, the Authority and the Agency agree as
26 follows:
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December 6, 1989
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1. The Authority agrees to loan Eight Hundred Seventy-
five Thousand Dollars ($875,000) to the Agency on or before
December 31, 1989.
The Agency shall, in consideration of such
loan, be obligated to pay to the Authority the amount of Eight
Hundred Seventy-five Thousand Dollars ($875,000) (the "Loan
Amount"), plus interest accruing at the lesser of (i) eight
percent (8%) or (ii) the maximum interest rate that may lawfully
be paid by a redevelopment agency; on or before December 31,
1990, provided that at the option of the Authority said loan may
be extended for successive one year periods; and provided that
the Authority agrees and acknowledges that such Loan Amount shall
be repaid as soon as economically feasible only from (i) tax
allocation revenues of the Project and (ii) such tax allocation
revenues as may hereafter be generated within the Project Area
16 to make payment from any other revenues.
and received by the Agency. The Agency shall have no obligation
17
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25
2. The obligations of the Agency pursuant to Section 1 of
this Agreement shall constitute the indebtedness of the Project.
The obligation of the Agency to make payments pursuant to this
Agreement shall be subordinate and subject to Section 33334.2 of
the Health & Safety Code and to the right of the Agency to pledge
or commit tax allocations from the Project Area to repay bonds or
other indebtedness incurred by the Agency in carrying out the
Redevelopment Plan (and such redevelopment plan as may hereafter
become applicable to the Project Area).
The Agency agrees to
26 file statements of indebtedness setting forth such obligation
27
28
until such time as the Loan Amount (together with accrued
DAB/ses
December 6, 1989
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interest) has been paid in full.
3. The Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
ATTEST:
By:
Secretary
Approved as to form
and legal content:
The Community Development
Commission of the City of
San Bernardino
BY:~)
.,/Authorit Counsel
By:
Acting Executive Director
Approved as to form
and legal content:
B~
A ency C sel
DAB/ses
December 6, 1989
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RESOLUTION NO.
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
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
18 hereto as Exhibit "A" and is incorporated herein by reference;
19 NOW THEREFORE, the Agency does hereby find, determine,
20 order and resolve as follows:
SECTION 1. The Loan Agreement is in the best interests of
23 welfare.
the Agency and will promote the public health, safety and
24
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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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
day of
, 1989, by the following vote, to wit:
AYES:
Commissioners
NAYS:
ABSENT:
Secretary
The foregoing resolution is hereby approved this
day
of
, 1989.
Approved as to form
and legal content:
Chairman of the Community
Development Commission of the
City of San Bernardino
BY:~
/Agency C nsel
DAB/ses
December 6, 1989
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LOAN AGREEMENT
(AUTHORITY TO AGENCY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
10 Safety Code, Section 33610) and other law authorizes the
11 Authority to loan money to the Agency for administrative expenses
12 and overhead of the Agency; and
13
14
15
16
B.
WHEREAS, the Authority desires to assist the Agency in
its responsibility of redevelopment of the Northwest
Redevelopment Project Area; and
C.
WHEREAS, the Agency and the Authority desire to
17 facilitate the redevelopment of the Project Area consistent with
18 the Redevelopment Plan; and
19
D.
WHEREAS, the Agency, pursuant to the Redevelopment
20 Plan and provisions of the Community Redevelopment Law (Health &
21 Safety Code Section 33000, et seg.) is authorized to borrow funds
22 to facilitate redevelopment; and
23
E.
WHEREAS, no other reasonable means of financing such
24 administrative expenses is available;
25 NOW THEREFORE, the Authority and the Agency agree as
26 follows:
27
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/
/
DAB/ses
December 6, 1989
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5
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8
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1. The Authority agrees to loan Eight Hundred Seventy-
five Thousand Dollars ($875,000) to the Agency on or before
December 31, 1989.
The Agency shall, in consideration of such
loan, be obligated to pay to the Authority the amount of Eight
Hundred Seventy-five Thousand Dollars ($875,000) (the "Loan
Amount"), plus interest accruing at the lesser of (i) eight
percent (8%) or (ii) the maximum interest rate that may lawfully
be paid by a redevelopment agency; on or before December 31,
1990, provided that at the option of the Authority said loan may
be extended for successive one year periods; and provided that
the Authority agrees and acknowledges that such Loan Amount shall
be repaid as soon as economically feasible only from (i) tax
allocation revenues of the Project and (ii) such tax allocation
revenues as may hereafter be generated within the Project Area
and received by the Agency. The Agency shall have no obligation
16 to make payment from any other revenues.
17
2. The obligations of the Agency pursuant to Section 1 of
18 this Agreement shall constitute the indebtedness of the Project.
19 The obligation of the Agency to make payments pursuant to this
20 Agreement shall be subordinate and subject to Section 33334.2 of
21 the Health & Safety Code and to the right of the Agency to pledge
22 or commit tax allocations from the Project Area to repay bonds or
23 other indebtedness incurred by the Agency in carrying out the
24 Redevelopment Plan (and such redevelopment plan as may hereafter
25
become applicable to the Project Area).
The Agency agrees to
26 file statements of indebtedness setting forth such obligation
27
28
until such time as the Loan Amount (together with accrued
DAB/ses
December 6, 1989
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interest) has been paid in full.
3.
The Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
ATTEST:
By:
Secretary
Approved as to form
and legal content:
The Community Development
Commission of the City of
San Bernardino
B~)
Authority. ounsel
By:
Acting Executive Director
Approved as to form
and legal content:
~
Agency Co sel
DAB/ses
December 6, 1989
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9
LOAN AGREEMENT
(AUTHORITY TO AGENCY)
THIS AGREEMENT is entered into as of this
day of
, 1989, by and between the SAN BERNARDINO
JOINT POWERS FINANCING AUTHORITY (The "Authority") and the
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO
(the "Agency").
RECITALS
A.
WHEREAS, the Community Redevelopment Law (Health &
10 Safety Code, Section 33610) and other law authorizes the
11 Authority to loan money to the Agency for administrative expenses
12 and overhead of the Agency; and
13
14
15
16
B.
WHEREAS, the Authority desires to assist the Agency in
its responsibility of redevelopment of the Northwest
Redevelopment Project Area; and
C.
WHEREAS, the Agency and the Authority desire to
17 facilitate the redevelopment of the Project Area consistent with
IS the Redevelopment Plan; and
19
D.
WHEREAS, the Agency, pursuant to the Redevelopment
20 Plan and provisions of the Community Redevelopment Law (Health &
21 Safety Code Section 33000, et seq.) is authorized to borrow funds
22 to facilitate redevelopment; and
23
E.
WHEREAS, no other reasonable means of financing such
24 administrative expenses is available;
25 NOW THEREFORE, the Authority and the Agency agree as
26 fOllows:
27
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DAB/ses
December 6, 1989
1
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2
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1.
The Authority agrees to loan Eight Hundred Seventy-
five Thousand Dollars ($875,000) to the Agency on or before
December 31, 1989.
The Agency shall, in consideration of such
loan, be obligated to pay to the Authority the amount of Eight
Hundred Seventy-five Thousand Dollars ($875,000) (the "Loan
Amount"), plus interest accruing at the lesser of (i) eight
percent (8%) or (ii) the maximum interest rate that may lawfully
be paid by a redevelopment agency; on or before December 31,
1990, provided that at the option of the Authority said loan may
be extended for successive one year periods; and provided that
the Authority agrees and acknowledges that such Loan Amount shall
be repaid as soon as economically feasible only from (i) tax
allocation revenues of the Project and (ii) such tax allocation
revenues as may hereafter be generated within the Project Area
and received by the Agency. The Agency shall have no obligation
16 to make payment from any other revenues.
17
2. The obligations of the Agency pursuant to Section 1 of
18 this Agreement shall constitute the indebtedness of the Project.
19 The obligation of the Agency to make payments pursuant to this
20 Agreement shall be subordinate and subject to Section 33334.2 of
21 the Health & Safety Code and to the right of the Agency to pledge
22 or commit tax allocations from the Project Area to repay bonds or
23 other indebtedness incurred by the Agency in carrying out the
24 Redevelopment Plan (and such redevelopment plan as may hereafter
25
become applicable to the Project Area).
The Agency agrees to
26 file statements of indebtedness setting forth such obligation
27
28
until such time as the Loan Amount (together with accrued
DAB/ses
December 6, 1989
2
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1
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interest) has been paid in full.
3. The Agreement shall be effective as of the day and
date first above shown.
San Bernardino Joint Powers
Financing Authority
By:
W.R. Holcomb, Chairman
ATTEST:
By:
Secretary
Approved as to form
and legal content:
The Community Development
Commission of the City of
San Bernardino
BY:~)
,/ Authori Counsel
By:
Acting Executive Director
Approved as to form
and legal content:
B~
Agency ounsel
DAB/ses
December 6, 1989
3