HomeMy WebLinkAboutResolution No. 6549 Third and A Parking Garage FundingRESOLUTION NO. 6549
A RESOLUTION OF THE SAN RAFAEL CITY COUNCIL
AUTHORIZING ADDITIONAL FUNDING FOR THE
PARKING GARAGE AT THIRD AND "A" STREETS
WHEREAS, there is now an unfunded balance of approxi-
mately $645,000 for the parking garage at Third and "A" Streets;
and
WHEREAS, it is the intent of the City Council to fund
the parking garage with additional payments from the Parking
District and a loan from the Open Space Fund and the General
Fund; and
WHEREAS, additional funds are currently available in
the Parking District to contribute an additional $100,000 for
the parking garage; and
WHEREAS, future revenues from the parking meters and
the parking garage will be made available to repay the proposed
loans within three years; and
NOW, THEREFORE, BE IT RESOLVED that the Parking District
budget is amended to provide an additional $100,000 for the park-
ing garage.
BE IT FURTHER RESOLVED that $468,000 should be trans-
ferred from the Open Space Fund at an interest rate of 4.9% and
the balance owed from the General Fund at an interest rate of 9%.
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
City on Monday the 16th day of ____ M_a~y _______ , 1983, by the
following vote, to wit:
AYES: COUNCILMEMBERs:Frugoli, Miskimen & Vice-Mayor Jensen
NOES: COUNCILMEMBERs:None
ABSENT: COUNCILMEMBERs:Breiner & Mayor Mulryan
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