HomeMy WebLinkAboutCC RESO 2003 - 103RESOLUTION NO. 2003 —103
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
AUTHORIZING THE MAYOR TO EXECUTE A NOTE,
A CONTRACT FOR LOAN GUARANTEE ASSISTANCE,
AND OTHER APPLICABLE DOCUMENTS TO SECURE
A $6.9 MILLION LOAN UNDER SECTION 108 OF THE
HOUSING AND COMMUNITY DEVELOPMENT ACT
OF 1974, AS AMENDED, FOR THE CONSTRUCTION
OF A NEW MAIN FIRE STATION
WHEREAS, the City has been approved by the U.S. Department of
Housing and Urban Development to obtain a $6.9 Million loan under Section 108 of the
Housing and Community Development Act of 1974, as amended, for the construction of
a new main Fire Station; and
WHEREAS, in order to secure loan funding, the Mayor must be authorized
by the City Council to execute a Note, a Contract for Loan Guarantee Assistance, and
other applicable documents.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
of National City hereby authorizes the Mayor to execute a Note, a Contract for Loan
Guarantee Assistance, and other applicable documents for the purpose of securing a
$6.9 Million loan under Section 108 of the Housing and Community Development Act of
1974, as amended, for the construction of a new main Fire Station. Said Note and
Contract are on file in the office of the City Clerk.
PASSED and ADOPTED this 15th day of July 2003.
Nicnunza, Mayor
ATTEST:
ti
Mich: el R. Della, !f Clerk
APPROVED AS TO FORM:
George Eiser, III
City Attorney