HomeMy WebLinkAboutResolution No. 6557 (Refinancing Redevelopment Agency Loan)RESOLUTION NO. 6557
A RESOLUTION OF THE SAN RAFAEL CITY COUNCIL
REFINANCING THE $268,000 LOAN TO THE
SAN RAFAEL REDEVELOPMENT AGENCY
WHEREAS, the San Rafael Redevelopment Agency currently
has a $268,000 loan payable to the City's Open Space Fund at
4.9% interest; and
WHEREAS, the City of San Rafael wishes to use these
funds to finance the parking garage at Third & "A" Streets; and
WHEREAS, the Redevelopment Agency is not able to
repay the current loan without serious cash flow problems.
NOW, THEREFORE, BE IT RESOLVED by the San Rafael City
Council that the sum of $268,000 is hereby transferred from the
General Fund reserves to the San Rafael Redevelopment Agency
effective June 1, 1983 at 9% interest.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael,
hereby certify that the foregoing resolution was duly and regularly
introduced and adopted at a regular meeting of the Council of said
Ci ty on Monday , the sixth day of June -------------------
1983, by the following vote, to wit:
AYES: COUNCILMEMBERS:Breiner, Frugoli, Jensen, Miskimen & Mayor Mulryan
NOES: COUNCILMEMBERs:None
ABSENT: COUNCILMEMBERs:None
26 B/29
ORIGJI AL
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