HomeMy WebLinkAboutR09-Economic Development Agency
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IEVBIDPMENl' IEPAtmIEtn' OF THE
crrr OF DN BI!:RNMDDt)
RIlnI'_ FOR ITNIIT....TtW #YW1IlY'TT. llC'l'IClN
Fran: :KENNEIH J. ~
Executive Director
SUbject: <XlOl'BRM'IClN llGREBMENl'
A1S.l1Uil5l'l' THE crrr OF DN
BI!:RNMDDt) >>II) THE CXIIMDNITY
IlEVEIDPMI!lNr CXIIMISSIClN OF
THE crrr OF DN BI!:RNMDDt)
rate: March 6, 1991
synopsis of PJ:1IVious OOIIIIIissiOD/0CIlmci1/OOIIIIIittee Action:
On September 5, November 5, November 19, ~hP.r 19, 1990 ani January 23 ani 28,
1991, the Mayor ani 0.",,""1'1 Ocuncil ani Chmmnrl.ty Devel""1-""='lt l"nnmi....ial took cer-
tain actions in CCll'll'IeCtian with the Eoollcmic Devel~",,1t Agercy :reol;\,lanizatian.
Re-=~ -.--.ded Motion:
lMavor lint! 0. .'-1.. ~'" OCP~of 1)
M:71'IClN A: RESOLtl'l'IClN OF THE DlOR >>II) cx:IODf ootllI:IL OF THE crrr OF DN
BI!:RNMDDt), ClILD'ORNIA, lW'DIJRIzno THE PR:IVISIClN OF crrr 8TAFP' '10
tJ1tlDf.:RaD PtJM::TIONB OF TIlE CXHmNITY IEVBIDPMENl' CXIIMISSIClN.
'~mitv nMM,.........t n-~ssionl
M:71'IClN B: RESOLtlTIClN OF THE CXIIMDNITY IEVBIDPMENl' CDlMISSIClN OF THE crrr OF DN
B1!lRNl\RDDD, ClILD'ORNIA, ~ '10 THE 8'mP'I':DG OF CXIIMISSIClN
llC'l'IVITIES .
DNtlE'lH ~ Executive Director
D8\relcplllll1t t
Contact Person:
Project Area(s):
Kenneth J. HerDerson
All Proiect Areas
H1one:
5065: 5081
1 throucrh 7
Ward(s) :
SUpporti.n;J rata Attached:
FUNDING ~:
staff Reoort: 1leso1utian
A1ID.Int: S
N/A
S01.lroe :
Budget Authority:
OOIIIIIissiOD/cauncil Notes:
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IOH: lab: 4272
CJ
~ Item No:
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IZVEIDPME:N'l' IZPARIHEN'r
STAFF RMvKJ."
OocDeration ll/n:......wmt Be~ the City of
San Bernarr'lhV'> aTld the n-tmnmity IllIw!Il~t n-orn-lssion
of t:ha City of San JlA......~
In september 1990, the Mayor ani C......n COOncil ani Cnllllllrli.ty Devel"'lA.....,L o:mnis-
sian, amn;r other actions, awroved the CCI'ISOlidatian of the lhmmn'li.ty Developnent
Department ani the Rsdevel"'lA'""'1t ~ (Devel"'lA'""'1t Department). Subsequently,
it was detexmined that the JOOSt effective ani efficient method of restructur~
ani reorganiz~ this newly-calSOlidated department was to "'""""TUsh the fol-
10W'~ tasks:
1. Identify required areas of responsibility.
2. Identify l'nnrn-l"lilion required areas of responsibility in addition to those in
item llUIlIber "1" above.
3. Identify human resources neoessaIy to carry art: furx:tions identified in items
IlUl'l1bered "1" ani "2" above.
4. Expam, contract, ani restzucture areas of respoosibility set forth in exist-
iD;1 organizatialal structure ani jctl descriptions, as ~~iate.
5. Olan;Je organizatialal structure, restzucture specific furx:tions ani duties,
ani prepare new jctl descriptions inccxporatiD;1 fin::iin;Js result~ fran the
bplementation of items IlUl'l1bered "1" thrQJgh "4" above.
As a part of items IlUl'l1bered "4" ani "5" above, it was detexmined that the esta-
blishment of newly designed City positions would be the JOOSt efficient manner of
ac:cc:mplishiD;1 COOncil/l'nnrniRsian directives. '!be establishment of such positions
also results in an important ani corollaIy benefit of allOW'iD;1 the Ecx:n:.mic neve-
1"'lA1o=nt NJercy to properly ani cxmpletely claim tax i1'k............rt:. associated with the
administratian ani management of all ~ activities.
'!be attached resolutions authorize the provisian of City staff to un:lertake ani
discharge all furx:tions delegated by the Mayor ani n""'1Il COOncil to the O::Bmmmity
Develcpnent Camnissian ani provides for the acknc:IwlEd;JewouIt ani acceptance by the
Camm.1nity Devel"'lAur=nt Camnissian of staff~ of l'nnrni....ion activities by E!llployees
of the Econanic Developnent ~ of the City ani other City ElIIIlloyees as deemed
appropriate.
staff rec:c:atUl'oeOO adoptian of the attached resolutions.
~_w_
DeY'elopnent t
KlH: lab: 4272
CDlMISSION MElE'l'Im
Meeti.nq DIlte: 03/11/91
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SBE00001/DOC/415
. 3/4/91
RESOLUTION NO.
RESOLUTION OF THE COMMUNITY
COMMISSION OF THE CITY OF SAN
CALIFORNIA, PERTAINING TO THE
COMMISSION ACTIVITIES
DEVELOPMENT
BERNARDINO,
STAFFING OF
WHEREAS, the City of San Bernardino (the "city") has
caused the restructuring of the Community Development Commission of
the City of San Bernardino (the "Commission") in order that said
Commission may function more effectively and efficiently in
implementing and carrying out community development programs
beneficial to the City; and
WHEREAS, the City and Commission have deemed it desirable
to enter into a certain agreement, a copy of which is attached
hereto as Exhibit "A" and incorporated herein by this reference
(the "Agreement") pertaining to the staffing of the Commission; and
WHEREAS, the Agreement provides that the City is to make
available to the Commission certain City staff in order that such
City staff may carryon the activities of the Commission and
implement the goals and programs of the Commission; and
WHEREAS, the Commission deems it desirable to act on
behalf of the Redevelopment Agency of the City of San Bernardino
(the "Agency") with respect to authorizing the funding by the
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Agency of certain activities of City employees involved in
implementing the programs and functions of the
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Community
Development Commission and specifically the Agency.
NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION
ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
section 1.
The Commission hereby acknowledges and
accepts staffing of commission activities by employees of the
Economic Development Agency of the City and other City employees,
if necessary.
section 2. The Commission, on behalf of the Agency,
hereby authorizes the funding by the Agency of the costs of
compensating those City employees who are engaged in programs and
activities on behalf of the Agency which benefit the Agency.
section 3.
The Commission, on its own behalf and on
behalf of the Agency, hereby approves that certain Cooperation
Agreement by and between the Commission and the City, a copy of
which is attached hereto as Exhibit "A" and incorporated herein by
this reference.
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, PERTAINING TO THE STAFFING OF
COMMISSION ACTIVITIES
section 4.
This Resolution shall take effect upon its
adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Community Development Commission of the City of
San Bernardino at a
meeting
thereof, held on the
day of
, 1991,
by the following vote, to wit:
commission Members:
AYES
NAYS
ABSTAIN
ESTRADA
REILLY
FLORES
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
Secretary
day of
The foregoing resolution is hereby approved this
, 1991.
w. R. Holcomb, Chairman
Community Development Commission
of the City of San Bernardino
Approved as to
form and legal content:
By:
,,)(~/;- If. -;)I<>vtl,
Agyricy Counsel
SREOOOOI\D0C\415\
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STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO) ss
CITY OF SAN BERNARDINO )
I, Secretary of the Communi ty
Development Commission of the City of San Bernardino, DO HEREBY
CERTIFY that the foregoing and attached copy of Community
Development Commission of the City of San Bernardino Resolution No.
is a full, true and correct copy of that now on file in
this office.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the Community Development Commission
of the City of San Bernardino this day of
1991.
Secretary of the
Community Development Commission
of the City of San Bernardino
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SBE00001/DOC/414
3/6/91 215
COOPERATION AGREEMENT BETWEEN THE
CITY OF SAN BERNARDINO AND THE
COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO
THIS AGREEMENT is made and entered into effective as of
this
day of March, 1991, by and between the CITY OF
SAN BERNARDINO, a Charter City, hereinafter referred to as the
"ci ty" and the COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, a public agency of the State of California,
hereinafter referred to as the "Commission" on its own behalf and
on behalf of the REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO, a public agency of the State of California,
. hereinafter referred to as the "Agency". The parties do hereby
agree as follows:
RECITALS
WHEREAS, the City has recently caused the establishment
of the Economic Development Agency of the City of San Bernardino to
occur, as well as a restructuring of the Agency and the Commission;
and
WHEREAS, the City deems it desirable to provide City
employees to the Commission in order that the Commission can
.
operate and manage the activities of the Economic Development
Agency which in turn operates and manages within said Economic
Exhibit "A" - Page 1
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Development Agency as the Development Department, the
San Bernardino Convention and visitors Bureau, the San Bernardino
Main Street Program and the Economic Development Council; and
WHEREAS, the city and the Commission deem it desirable
that City employees undertake certain functions and activities of
the Commission in the operation of the various departments which
come under the purview of the Commission; and
WHEREAS, the Commission deems it desirable that the
Agency fund a portion of the activities undertaken by city
employees within the Economic Development Agency and other city
employees, as necessary, acting on behalf of the Agency; and
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WHEREAS, the City is willing and able to provide certain
services and employees to and on behalf of the Commission and the
Agency.
NOW THEREFORE in consideration of the premises, the
covenants and agreements herein contained, and other good and
valuable consideration, receipt of which is hereby acknowledged,
the parties hereto agree as follows:
section 1. The Commission agrees to utilize and the
City agrees to provide the services of certain city employees
within the Economic Development Agency to the Commission to perform
e all necessary services in connection with projects undertaken by
Exhibit "A" - Page 2
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the Commission or being considered by the Commission in connection
with the operation and functioning of the Commission through the
Economic Development Agency. The City employees within the
Economic Development Agency shall render in a satisfactory manner
all such services necessary and desired and shall confer when
necessary with the Commission as to the level and scope of such
personnel services.
section 2. ComDensation. The Commission on behalf of
the Agency agrees that the Agency shall incur as an indebtedness to
the city and shall pay to the city from tax increment revenues
available to the Agency certain amounts, plus interest thereon,
representing compensation for any activities undertaken by city
employees which directly benefit the Agency and which are
undertaken in connection with the implementation of the programs
and activities of the Agency. The Agency shall set forth on its
annual Statement of Indebtedness filed with the County of
San Bernardino pursuant to Health and Safety Code section 33675 the
amount of all annual indebtedness outstanding and owed to the City
for all costs and expenses incurred by the Agency, plus interest
thereon, for all services rendered by the City to or for the
benefit of the Agency pursuant to this Agreement.
section 3. Other Economic DeveloDment Aaency
Activities. with respect to any activities or functions
undertaken by employees acting on behalf of the Economic
Development Agency which are not otherwise funded by the Agency,
Exhibit "A" - Page 3
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the City agrees to fund such activities and to compensate City
employees involved in such acti vi ties from its own funding sources.
Section 4. This Agreement and all obligations of the
Agency and the Commission to repay the principal and interest
amounts owed hereunder to the City shall at all times be expressly
subordinated to all other forms of indebtedness issued or incurred
by either the Agency or the Commission and payable from tax
increment revenues whether such indebtedness be in the form of
bonds, notes, contractual arrangements or other forms of
indebtedness as may be outstanding as of the date of this Agreement
or as may be hereafter issued or incurred by the Agency or the
Commission.
Section 5. This Agreement may be terminated by either
the city or the Commission upon thirty (30) days written notice to
the other party hereto.
Exhibit "A" - Page 4
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IN WITNESS WHEREOF, the parties hereto have duly executed
this Agreement effective as of the date first written above.
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO
APPROVED AS TO FORM:
By:
Chairman
~~6J
/commissi Counsel
By:
Secretary
CITY OF SAN BERNARDINO
APPROVED AS TO FORM:
By:
Mayor
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C Attor. y
By:
City Clerk
SBEOOOOllDOC/414
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Exhibit "A" - Page 5
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SBE00001/DOC/416/dc
03/5/91 0245
RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF
THE CITY OF SAN BERNARDINO, CALIFORNIA,
AUTHORIZING THE PROVISION OF CITY STAFF TO
UNDERTAKE FUNCTIONS OF THE COMMUNITY
DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO
WHEREAS, the City of San Bernardino (the "City") has
previously caused the restructuring of the Economic Development
Agency of the city of San Bernardino and of the Community
Development Commission of the City of San Bernardino (the
"Commission"); and
WHEREAS, in connection with the restructuring of the
Economic Development Agency and the Commission, the city has deemed
it desirable that the activities of the Commission and the Economic
Development Agency be undertaken by City employees; and
WHEREAS, the City deems it desirable that certain City
employees also function and perform activities and duties on behalf
of the Redevelopment Agency of the City of San Bernardino (the
"Agency"); and
WHEREAS, to the extent any city employees of the Economic
Development Agency or other City employees are engaged in
activities of the Agency, the City deems it desirable that the
Agency compensate the city for such activities; and
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WHEREAS, in connection with the restructuring of the
Economic Development Agency, the City and the Commission have
entered into a certain Cooperation Agreement, a copy of which is
attached hereto as Exhibit "A" and incorporated herein by this
reference.
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE, DETERMINE
AND ORDER AS FOLLOWS:
Section 1. The City hereby authorizes Staff of the
Economic Development Agency and other city employees, as necessary,
to perform duties and functions on behalf of the Commission and the
Agency.
Section 2. The City hereby acknowledges that the
Agency shall be responsible for the payment of or reimbursement for
certain services to the extent such services are provided in
connection with implementing programs and activities of the Agency.
Section 3. The city hereby approves that certain
Cooperation Agreement, a copy of which is attached hereto as
Exhibit "A" and incorporated herein by this reference.
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, AUTHORIZING THE PROVISION OF CITY STAFF
TO UNDERTAKE FUNCTIONS OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO
section 4.
This Resolution shall take effect upon the
date of its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the City of
San Bernardino at a
meeting
thereof, held on the
by the following vote, to wit:
day of
, 1991,
AYES:
Council Members
NAYS:
ABSENT:
City Clerk
The foregoing
day of
resolution is
, 1991.
hereby
approved
this
Mayor of the City of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
city Attorney
BY~.J'~~ )
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STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO) ss
CITY OF SAN BERNARDINO )
I, RACHEL KRASNEY, City Clerk in and for the City of
San Bernardino, DO HEREBY CERTIFY that the foregoing and attached
copy of San Bernardino city Resolution No. is a full,
true and correct copy of that now on file in this office.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the City of San Bernardino this
day of , 1991.
City Clerk
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SBE00001/DOC/414
3/6/91 215
COOPERATION AGREEMENT BETWEEN THE
CITY OF SAN BERNARDINO AND THE
COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO
THIS AGREEMENT is made and entered into effective as of
this
day of March, 1991, by and between the CITY OF
SAN BERNARDINO, a Charter City, hereinafter referred to as the
"City" and the COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, a public agency of the State of California,
hereinafter referred to as the "Commission" on its own behalf and
on behalf of the REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO, a public agency of the State of California,
. hereinafter referred to as the "Agency". The parties do hereby
agree as follows:
RECITALS
WHEREAS, the City has recently caused the establishment
of the Economic Development Agency of the City of San Bernardino to
occur, as well as a restructuring of the Agency and the Commission;
and
WHEREAS, the city deems it desirable to provide city
.
employees to the Commission in order that the Commission can
operate and manage the activities of the Economic Development
Agency which in turn operates and manages within said Economic
Exhibit "A" - Page 1
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Development Agency as the Development Department, the
San Bernardino Convention and Visitors Bureau, the San Bernardino
Main Street Program and the Economic Development Council; and
WHEREAS, the City and the Commission deem it desirable
that city employees undertake certain functions and activities of
the Commission in the operation of the various departments which
come under the purview of the Commission; and
WHEREAS, the Commission deems it desirable that the
Agency fund a portion of the activities undertaken by City
employees within the Economic Development Agency and other City
employees, as necessary, acting on behalf of the Agency; and
.
WHEREAS, the City is willing and able to provide certain
services and employees to and on behalf of the Commission and the
Agency.
NOW THEREFORE in consideration of the premises, the
covenants and agreements herein contained, and other good and
valuable consideration, receipt of which is hereby acknowledged,
the parties hereto agree as follows:
Section 1. The Commission agrees to utilize and the
City agrees to provide the services of certain city employees
within the Economic Development Agency to the Commission to perform
. all necessary services in connection with projects undertaken by
Exhibit "A" - Page 2
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the Commission or being considered by the Commission in connection
with the operation and functioning of the Commission through the
Economic Development Agency. The city employees within the
Economic Development Agency shall render in a satisfactory manner
all such services necessary and desired and shall confer when
necessary with the Commission as to the level and scope of such
personnel services.
Section 2. Comoensation. The Commission on behalf of
the Agency agrees that the Agency shall incur as an indebtedness to
the City and shall pay to the city from tax increment revenues
available to the Agency certain amounts, plus interest thereon,
representing compensation for any activities undertaken by City
employees which directly benefit the Agency and which are
undertaken in connection with the implementation of the programs
and activities of the Agency. The Agency shall set forth on its
annual Statement of Indebtedness filed with the County of
San Bernardino pursuant to Health and Safety Code Section 33675 the
amount of all annual indebtedness outstanding and owed to the city
for all costs and expenses incurred by the Agency, plus interest
thereon, for all services rendered by the City to or for the
benefit of the Agency pursuant to this Agreement.
section 3. Other Economic Development Aaencv
Activities. with respect to any activities or functions
undertaken by employees acting on behalf of the Economic
Development Agency which are not otherwise funded by the Agency,
Exhibit "A" - Page 3
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the City agrees to fund such activities and to compensate City
employees involved in such activities from its own funding sources.
section 4. This Agreement and all obligations of the
Agency and the Commission to repay the principal and interest
amounts owed hereunder to the City shall at all times be expressly
subordinated to all other forms of indebtedness issued or incurred
by either the Agency or the Commission and payable from tax
increment revenues whether such indebtedness be in the form of
bonds, notes, contractual arrangements or other forms of
indebtedness as may be outstanding as of the date of this Agreement
or as may be hereafter issued or incurred by the Agency or the
commission.
Section 5. This Agreement may be terminated by either
the City or the Commission upon thirty (30) days written notice to
the other party hereto.
Exhibit "A" - Page 4
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IN WITNESS WHEREOF, the parties hereto have duly executed
this Agreement effective as of the date first written above.
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO
APPROVED AS TO FORM: By:
Chairman
~fAt~ By:
'/commissi Counsel Secretary
CITY OF SAN BERNARDINO
APPROVED AS TO FORM: By:
Mayor
~A. ../ By:
. ci Attorn city Clerk
SBEOOOlll1DOCl414
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Exhibit "A" - Page 5
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SBE00001/DOC/414
3/6/91 215
COOPERATION AGREEMENT BETWEEN THE
CITY OF SAN BERNARDINO AND THE
COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO
THIS AGREEMENT is made and entered into effective as of
this
day of March, 1991, by and between the CITY OF
SAN BERNARDINO, a Charter City, hereinafter referred to as the
"City" and the COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, a public agency of the State of California,
hereinafter referred to as the "Commission" on its own behalf and
on behalf of the REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO, a public agency of the State of California,
. hereinafter referred to as the "Agency". The parties do hereby
agree as follows:
RECITALS
WHEREAS, the City has recently caused the establishment
of the Economic Development Agency of the City of San Bernardino to
occur, as well as a restructuring of the Agency and the Commission;
and
WHEREAS, the City deems it desirable to provide city
employees to the Commission in order that the Commission can
.
operate and manage the activities of the Economic Development
Agency which in turn operates and manages within said Economic
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.
.
Development Agency as the Development Department, the
San Bernardino Convention and visitors Bureau, the San Bernardino
Main Street Program and the Economic Development Council; and
WHEREAS, the city and the Commission deem it desirable
that city employees undertake certain functions and activities of
the Commission in the operation of the various departments which
come under the purview of the Commission; and
WHEREAS, the Commission deems it desirable that the
Agency fund a portion of the activities undertaken by City
employees within the Economic Development Agency and other City
employees, as necessary, acting on behalf of the Agency; and
.
WHEREAS, the city is willing and able to provide certain
services and employees to and on behalf of the Commission and the
Agency.
NOW THEREFORE in consideration of the premises, the
covenants and agreements herein contained, and other good and
valuable consideration, receipt of which is hereby acknowledged,
the parties hereto agree as follows:
section 1. The Commission agrees to utilize and the
city agrees to provide the services of certain City employees
within the Economic Development Agency to the Commission to perform
. all necessary services in connection with projects undertaken by
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the Commission or being considered by the Commission in connection
with the operation and functioning of the Commission through the
Economic Development Agency. The City employees within the
Economic Development Agency shall render in a satisfactory manner
all such services necessary and desired and shall confer when
necessary with the Commission as to the level and scope of such
personnel services.
section 2. Compensation. The commission on behalf of
the Agency agrees that the Agency shall incur as an indebtedness to
the City and shall pay to the City from tax increment revenues
available to the Agency certain amounts, plus interest thereon,
representing compensation for any activities undertaken by city
employees which directly benefit the Agency and which are
undertaken in connection with the implementation of the programs
and activities of the Agency. The Agency shall set forth on its
annual Statement of Indebtedness filed with the County of
San Bernardino pursuant to Health and Safety Code section 33675 the
amount of all annual indebtedness outstanding and owed to the City
for all costs and expenses incurred by the Agency, plus interest
thereon, for all services rendered by the City to or for the
benefit of the Agency pursuant to this Agreement.
section 3. other Economic Development Aqency
Activities. With respect to any activities or functions
undertaken by employees acting on behalf of the Economic
Development Agency which are not otherwise funded by the Agency,
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the City agrees to fund such activities and to compensate city
employees involved in such activities from its own funding sources.
section 4. This Agreement and all obligations of the
Agency and the Commission to repay the principal and interest
amounts owed hereunder to the City shall at all times be expressly
subordinated to all other forms of indebtedness issued or incurred
by either the Agency or the Commission and payable from tax
increment revenues whether such indebtedness be in the form of
bonds, notes, contractual arrangements or other forms of
indebtedness as may be outstanding as of the date of this Agreement
or as may be hereafter issued or incurred by the Agency or the
Commission.
section 5. This Agreement may be terminated by either
the City or the Commission upon thirty (30) days written notice to
the other party hereto.
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IN WITNESS WHEREOF, the parties hereto have duly executed
this Agreement effective as of the date first written above.
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO
APPROVED AS TO FORM: By:
Chairman
~/4J By:
,./:ommissio ounsel Secretary
CITY OF SAN BERNARDINO
APPROVED AS TO FORM: By:
Mayor
~ By:
. cit ttorney city Clerk
SDEOOOOllDOC/414
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