HomeMy WebLinkAbout2009-12-08 - RESOLUTIONS - VALENCIA B&TDIST (2)RESOLUTION NO. 09-104
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING A LOAN FROM THE
VALENCIA BRIDGE & THOROUGHFARE DISTRICT TO THE BOUQUET BRIDGE &
THOROUGHFARE DISTRICT IN THE AMOUNT OF $270,000
WHEREAS, there are sufficient funds in the Valencia Bridge & Thoroughfare District to
make a loan in the amount of $270,000 to the Bouquet Bridge & Thoroughfare District; and
WHEREAS, the funds will be used to reimburse Newhall Land and Farm for the
construction of traffic signal along Santa Clarita Parkway and Newhall Ranch Road.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. It is agreed that $270,000 from the Valencia Bridge & Thoroughfare will
be loaned to the Bouquet Bridge & Thoroughfare District.
SECTION 2. The amount of the loan will be paid back at a future time when funds in
the amount of $270,000 are available to repay the loan back to the Valencia Bridge &
Thoroughfare District.
SECTION 3. The loan will be paid back at an interest rate equivalent to the yield of the
average monthly investment portfolio.
SECTION 4. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this 8th day of December, 2009.
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ATTEST:
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, MMC, 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 8th day of December, 2009, by the following vote:
AYES:
NOES:
DISQUALIFIED
ABSENT:
COUNCILMEMBERS: McLean, Ferry, Ender, Kellar
COUNCILMEMBERS:
None
COUNCILMEMBERS:
Weste
COUNCILMEMBERS:
None
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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. 09-104, adopted by the City Council of the City
.. ... _.._ _. -- -... - _._
of Santa Clarita, California on December 8, 2009, 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, MMC
City Clerk
By
Susan Caputo, CMC
Deputy City Clerk
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