HomeMy WebLinkAbout2010-03-09 - RESOLUTIONS - VIA PRINCESSA B&TDIST LOAN (2)RESOLUTION NO. 10-11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING A LOAN FROM THE
VIA PRINCES SA BRIDGE AND THOROUGHFARE DISTRICT TO THE
EASTSIDE BRIDGE AND THOROUGHFARE DISTRICT
IN THE AMOUNT OF $250,000
WHEREAS, the House of Representatives passed the Jobs- for Mdn Sffeef Act Bill
t
(Economic Stimulus 2) that will provide California with approximately -$2.9,._billion for
infrastructure improvements; and
WHEREAS, the City received a solicitation from the Los Angeies. "County, N etropolitan
Transportation Authority for a list of projects that meets very specific eligibility requirements;
and
WHEREAS, the Golden Valley Road Widening and Median Improvements from Centre
Pointe Parkway to Sierra Highway, Project S3027, meets these requirements and has been listed
by the City as a candidate to receive funding through the Jobs for Main Street Act; and
WHEREAS, there are sufficient funds in the Via Princessa Bridge and Thoroughfare
District to make a loan in the amount of $250,000 to the Eastside Bridge and Thoroughfare
District; and
WHEREAS, the funds will be used for engineering design services for the widening of
the Golden Valley Road and Median Improvements from Centre Pointe Parkway to Sierra
Highway, Project 53027, in anticipation of pending federal appropriation for construction of the
widening effort.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. It is agreed that $250,000 from the Via Princessa Bridge and Thoroughfare
District will be loaned to the Eastside Bridge and Thoroughfare District.
SECTION 2. The loan will be repaid at a future date when funds in the amount of
$250,000 are available in the Eastside Bridge and 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 9th day of March, 2010.
MAYOR
ATTEST:
or
CITY CLERK,
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 9th day of March, 2010, by the following vote:
AYES: COUNCILMEMBERS: Ender, Kellar, McLean, Ferry, Weste
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
2
CITY CLERK
11
1
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. 10-11 adopted by the
City Council of the City of Santa Clarita, California on March 9, 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