HomeMy WebLinkAboutCC RESO 13,826RESOLUTION NO. 13,826
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL
CITY, CALIFORNIA EXTENDING THE TIME FOR REPAYMENT OF A
PROMISSORY NOTE OF THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF NATIONAL CITY FROM JULY 15, 1982 TO
JULY 15, 1983
WHEREAS, the City Council of the City of National City,
California by its Resolution No. 12,794, adopted July 18, 1982,
authorized an Agreement for Loan and Repayment with the Community
Development Commission of the City of National City for the E. J.
Christman Business and Industrial Park Redevelopment Project in
the amount of $200,000, a promissory note was executed, and the City
funded the $200,000 on January 9, 1979; and
WHER
EAS, at the request of the
Commission the City Council, by adoption
on August 7, 1979 extended the repayment
1980; and
Community Development
of Resolution No. 13,902
period on said note to July 15,
WHEREAS, the City Council, at the request of the Community
Development Commission further extended the repayment period on said
note to July 15, 1981 by the City Council's adoption of Resolution
No. 13,375 on July 1, 1980; and
WHEREAS, at the request of the Community Development Commission
the City Council by adoption of Resolution No. 13,576 on June 23, 1981
further extended the repayment period for said note to July 15, 1982;
and
WHEREAS, the Community Development Commission has need at this
time of a further and final extension of the repayment period for said
note to July 15, 1983 and the Community Development Commission has
assured the City Council that it will pay said note and accrued interest
by or before said date;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of National City that the Mayor of the City is authorized to
amend, on behalf of the City, the Agreement for Loan and Repayment
E. J. Christman Business and Industrial Park Redevelopment Project,
executed by the City and the Community Development Commission July 18,
1978, as amended, to extend the date of repayment of said loan for
$200,000 and accrued interest thereon from July 15, 1982 to July 15,
1983.
PASSED AND ADOPTED this 15th day of June, 1982.
Kile Morgan, M or
ATTEST:
Ione ampbell, City C1=rk