HomeMy WebLinkAbout2005-01-25 - RESOLUTIONS - AUTHORIZING LOAN SCRDA (3)RESOLUTION NO. 05-13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, AUTHORIZING A LOAN TO THE
SANTA CLARTTA REDEVELOPMENT AGENCY
The City Council of the City of Santa Clarita does hereby resolve as follows:
SECTION 1. The City is hereby authorized to make a loan to the Santa Clarita
Redevelopment Agency in the amount of Eight Hundred Forty -Five Thousand Dollars
($845,000), which loan is authorized pursuant to the Community Redevelopment Law (Section
33000 et. seq. of the Health and Safety Code), from the General Fund. The loan shall be
evidenced by a Promissory Note in substantially the form attached as Exhibit A to this
Resolution and incorporated herein by this reference.
SECTION 2. The City Clerk shall certify to the adoption of this Resolution and certify
this record to be a full, true, correct copy of the action taken.
PASSED, APPROVED AND ADOPTED this 25`s day of January, 2005.
ATTEST:
CITY CLERK
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 25` day of January, 2005, by the following vote:
AYES: COUNCILMEMBERS: McLean, Weste, Kellar, Ferry, Smyth
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
CERTIFICATION OF
CITY COUNCIL RESOLUTION
I, Sharon L. Dawson, City Clerk of the City of Santa Clarita, do hereby certify that this is a true
and correct copy of the original Resolution No. 05-13, adopted by the City Council of the City of
Santa Clarita, California on January 25, 2005, which is now on file in my office.
Witness my hand and seal of the City of Santa Clarita, California, this _ day of
20_.
Sharon L. Dawson, CMC
City Clerk
By
Susan Coffman
Deputy City Clerk
$845,000
Exhibit A
PROMISSORY NOTE
January 25, 2005
The Santa Clarita Redevelopment Agency, a redevelopment agency ("Agency") , for a
good and valuable consideration, receipt of which is hereby acknowledged, does hereby agree to
pay, on or before maturity, to the City of Santa Clarita, California, 91355, the sum of
Eight Hundred Forty -Five Thousand Dollars ($845,000), together with interest per annum
thereon, at a rate equal to the prime rate minus one (1) point: "Prime Rate" as used herein shall
mean the prime rate of interest quoted in the greater Los Angeles area as of July 1 of each
calendar year during the term thereof, by the First Interstate Bank, or its successor.
Principal and interest shall be payable in lawful monies of the United States. Said
principal and interest shall be paid at maturity; provided, at the option of the Agency, the entire
balance of principal and interest may be paid prior to said maturity date.
Should litigation be reasonably necessary to enforce the provisions of this Note, the
Agency shall pay, in addition to all other sums due on this note, an amount equal to reasonable
attorneys' fees as set by the court, plus court costs incurred herein.
SANTA CLARITA REDEVELOPMENT AGENCY
By:
Executive Director
ATTEST:
By:
Secretary