HomeMy WebLinkAbout2000-03-14 - RESOLUTIONS - LOAN EASTSIDE B&TDIST (2)RESOLUTION NO. 00-39
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA CLARITA, CALIFORNIA
APPROVING A LOAN FROM THE GENERAL FUND TO
THE EASTSIDE BRIDGE & THOROUGHFARE DISTRICT
IN THE AMOUNT OF $1,500,000
WHEREAS, there are sufficient funds in the General Fund to make a loan in the amount of
$1,500,000 to the Eastside Bridge & Thoroughfare District; and
WHEREAS, the funds will be used to build the portion of Golden Valley Road south of Via
Princessa in conjunction with the City of Santa Clarita and the William S. Hart High
School District Golden Valley Road Project Phase I; and
WHEREAS, the loaned funds will be used exclusively for the construction of Golden Valley
Road.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA does
resolve as follows:
SECTION 1. It is agreed that $1,500,000 from the General Fund will be loaned to the
Eastside B&T District.
SECTION 2. The amount of the loan will be paid back at a future time when funds in the
amount of $1,500,000 are available to repay the loan back to the General Fund.
SECTION 3. The loan will be paid back at an interest rate equivalent to the yield of the
average monthly investment portfolio.
PASSED, APPROVED AND ADOPTED THIS 14thday of March 2000.
ATTEST:
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RESOLUTION NO. 00- 39
March 14, 2000 — Page 2
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) ss
CITY OF SANTA CLARITA )
I, Sharon L Dawson 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
special meeting thereof, held on the day 14th of March 2000, by the following
vote of the Council:
AYES: COUNCILMEMBERS : Klajic, Weste, Ferry, Heidt, Darcy
NOES: COUNCILMEMBERS : None
ABSENT: COUNCILMEMBERS : None
CITY CLERK
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SATES WOUNCILWOLDEMAWARD.DOC