HomeMy WebLinkAbout2011-06-14 - RESOLUTIONS - B&T LOAN VALENCIA BOUQUET (2)1
RESOLUTION 11-53
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING A LOAN
FROM THE VALENCIA BRIDGE AND THOROUGHFARE DISTRICT TO THE BOUQUET
BRIDGE AND THOROUGHFARE DISTRICT IN .THE AMOUNT OF $424,728
WHEREAS, there are sufficient funds in the Valencia Bridge and Thoroughfare District
to make a loan in the amount of $ 424,728 to the Bouquet Bridge & Thoroughfare District; and
WHEREAS, the funds will be used to provide for various traffic improvements and safety
projects; AND
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. It is agreed that $424,728 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 $424,728 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.
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PASSED, APPROVED, AND ADOPTED this 14th day of June, 2011.
MAYOR
ATTEST:
ACTING
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DATE: 0 • it
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Kevin Tonoian, Acting 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 14th day of June, 2011, by the following vote:
AYES: COUNCILMEMBERS: Kellar, Ender, Ferry, Weste, McLean
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
I
ACT G 14TTY 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 11-53 adopted by the City
Council of the City of Santa Clarita, California on June 14, 2011, which is now on file in my
office.
Witness my hand and seal of the City of Santa Clarita, California, this day of
2011.
City Clerk
By
Deputy City Clerk
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