HomeMy WebLinkAboutCC RESO 14,359RESOLUTION NO. 14,359
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NATIONAL CITY, CALIFORNIA AUTHORIZING EXECUTION
OF AN AGREEMENT FOR LOAN AND REPAYMENT WITH THE
COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
NATIONAL CITY FOR THE NATIONAL CITY DOWNTOWN
REDEVELOPMENT PROJECT
WHEREAS, the Community Development Commission, in its
capacity as Redevelopment Agency, is in need of a loan for project
operations; and
WHEREAS, the City desires to assist the Commission in
such need; and
WHEREAS, the California Community Redevelopment Law
authorizes the City to make a loan to the Commission; and
WHEREAS, an Agreement for Loan and Repayment and a
Promissory Note have been prepared for said Loan;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of National City that the Mayor is hereby authorized to execute,
on behalf of the City, an Agreement for Loan and Repayment with the
Community Development Commission of the City of National City for
the National City Downtown Redevelopment Project in the amount of
$100,000.
PASSED AND ADOPTED this 26th day of June, 1984.
ATTEST:
Ione mpbell, City Cle
Kile Morgan, May