HomeMy WebLinkAbout1999-09-14 - RESOLUTIONS - HUD 108 LOAN CDBG (2)RESOLUTION NO. 99-153
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA CLARITA, CALIFORNIA,
AUTHORIZING THE CITY MANAGER TO EXECUTE A
CONTRACT FOR LOAN GUARANTEE ASSISTANCE
WITH THE UNITED STATES DEPARTMENT OF
HOUSING AND URBAN DEVELOPJMENT AND
APPROVING THE ISSUANCE OF PROMISSORY NOTES
FOR THE SECTION 108 LOAN
WHEREAS, the West Newhall curb, gutter, and sidewalk improvement program is
an eligible use of Community Development Block Grant Section 108 loan funds.
WHEREAS, the City of Santa Clarita applied for and was granted loan guarantee
assistance from the United States Department of Housing and Urban Development
("HUD") in the amount of $2.3 million.
WHEREAS, HUD and the City will enter into a Contract for Loan Guarantee
Assistance (the "Contract") whereunder HUD will guarantee notes (the "Notes") of
the City in the amount of $2.3 million, plus interest thereon, which will be issued to
finance activities described in application B -98 -MC -06-0576.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA
does resolve as follows:
SECTION 1: That the entry into the Contract and the issuance of the Notes by the
City is hereby authorized and approved.
SECTION 2: That the City Manager of the City is hereby authorized and directed,
on behalf and in the name of the City, to execute and deliver the contract and the
Notes.
SECTION 3: That the City Manager of the City is hereby authorized to take such
further actions and to execute and deliver such further documents and instruments
as may be necessary to more fully carry out the purposes of this Resolution, and all
prior acts and deeds of the City Manager and other City officials in connection
therewith are -hereby approved, ratified, and confirmed.
PASSED, APPROVED AND ADOPTED THIS 14 day of SPTt PmhPr
1999.
A MA
YOR
ATTEST:
A -a-1 �z
CITY CLERK
RESOLUTION NO. 99-153
Page 2
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) ss
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, CMC. City Clerk of the City of Santa Clarita, do hereby certify
that the foregoing Resolution was duly adopted by the City Council of the City of
Santa Clarita at a regular meeting thereof, held on the 1_ day of
September , 1999, by the following vote of the Council:
AYES: COUNCILMEMBERS: Kla.jic, Heidt, Ferry, weste, Darcy
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
CITY CLERK
..nc%.99-159
Exhibit "A"
"Phase 108" project limits -Construction
scheduled to begin in September 1999
^............•••• Completed (Phase 1 and Phase 2)
Completed (Phase 3)
North
nts