HomeMy WebLinkAbout2010-06-22 - RESOLUTIONS - LOAN DEVELOPERS FEE TO B&TDIS (2)RESOLUTION NO. 10-41
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING A LOAN FROM THE
DEVELOPERS FEE FUND (SAN FERNANDO RELINQUISHMENT) TO
THE VIA PRINCESSA BRIDGE AND THOROUGHFARE
DISTRICT IN THE AMOUNT OF $111,242
WHEREAS, there are sufficient funds in the Developers Fee Fund (San Fernando
Relinquishment) to make a loan in the amount of $111,242 to the Via Princessa Bridge &
Thoroughfare District; and
WHEREAS, the funds will be used to provide for the design and construction of the
Newhall Avenue Pedestrian, Facilities and Sidewalk project.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve
as follows:
SECTION 1. It is agreed that $111,242 from the Developers Fee Fund will be loaned to
the Via Princessa Bridge & Thoroughfare District.
SECTION 2. The amount of the loan will be paid back at a future time when funds in
the amount of $111,242 are available to repay the loan back to the Developers Fee Fund.
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 22nd day of June, 2010.
ATTEST:
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CITY CLERK
f' �i
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Sarah P. Gorman, 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 22nd day of June, 2010, by the following vote:
AYES:
NOES:
RECUSED
ABSENT:
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
0a
Kellar, McLean, Ferry, Ender
None
Weste
None
CITY CLERK
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
CERTIFICATION OF
CITY COUNCIL RESOLUTION
I, , City Clerk of the City of Santa Clarita, do hereby
certify that this is a true and correct copy of the original Resolution No. 10-41, adopted by the
City Council of the City of Santa Clarita, California on June 22, 2010, which is now on file in
my office.
Witness my hand and seal of the City of Santa Clarita, California, this _ day of 2010.
City Clerk
By
Deputy City Clerk
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