HomeMy WebLinkAbout2013-06-25 - RESOLUTIONS - GAS TAX VALENCIA BRIDGE (2)' RESOLUTION NO. 13-49
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING A LOAN
FROM THE GAS TAX TO VALENCIA BRIDGE AND THOROUGHFARE DISTRICT IN
THE AMOUNT OF $242,591
WHEREAS, there are sufficient funds in the Gas Tax Fund Balance to make a loan in the
amount of $242,591 to the Valencia Bridge & Thoroughfare District; and
WHEREAS, the funds will be used for the widening design of the Newhall Ranch Road
Bridge at the San Francisquito Creek that would provide a multi -use path.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. It is agreed that $242,591 from the Gas Tax Fund will be loaned to the
Valencia Bridge & Thoroughfare District.
SECTION 2. The amount of the loan will be paid back at a future time when funds in the
' amount of $242,591 are available to repay the loan back to the Gas Tax 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 25th day of June, 2013.
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YOR
ATTEST:
DATE
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Armine Chaparyan, Interim 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 25th day of June, 2013, by the following vote:
AYES: COUNCILMEMBERS
NOES: COUNCILMEMBERS
McLean, Ferry, Weste, Boydston, Kellar
10416
ABSENT: COUNCILMEMBERS: None
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