HomeMy WebLinkAbout2006-03-28 - RESOLUTIONS - MARKET ARCH ST PURCHASE (2)RESOLUTION NO. 06-27
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING A LOAN AND APPROPRIATION
FROM THE GENERAL FUND TO THE VIA PRINCESSA BRIDGE AND
THOROUGHFARE DISTRICT IN THE AMOUNT OF $430,000
WHEREAS, there are sufficient funds in the General Fund to make a loan in the amount
of $430,000 to the Via Princessa Bridge and Thoroughfare District; and
WHEREAS, the funds will be used for the acquisition of 11.19 acres of vacant land
located at the northwest corner of Market and Arch Streets, Assessor's Pmcei Nos. 2833-614-014
and 2831-011-037; and
WHEREAS, this acquisition will assist in implementing the future alignment of the
Dockweiler Drive extension, which will create a secondary east -west link through Newhall; and
WHEREAS, the portions of the property not necessary for the road may have enhanced
investment and development potential.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. It is agreed that $430,000 from the General Fund will be appropriated to
the Via Princessa Bridge and Thoroughfare District.
SECTION 2. Approval of the requested actions will result in a remaining balance of
$47,500 in the Dockweiler Drive Account No. 53032303.
SECTION 3. The amount of the loan will be paid back at a future time when funds in
the amount of $430,000 are available to repay the loan back to the General Fund.
SECTION 4. The loan will be paid back at an interest rate equivalent to the yield of the
average monthly investment portfolio.
SECTION 5. 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 28th day of March, 2006.
MAYOR
ATTEST:
CITY CLERK
STATI?, OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARTTA )
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 28th day of March, 2006, by the following vote:
AYES:
COUNCILMEMBERS:
Ferry, Smyth, McLean, Kellar
NOES:
COUNCILMEMBERS:
None
ABSENT:
COUNCILMEMBERS:
None
DISQUALIFIED:
COUNCILMEMBERS:
Weste
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. 06-27, adopted by the City Council of the City of
Santa Clarita, California on March 28, 2006, 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
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