Resolution 10749CITY OF ALAMEDA RESOLUTION NO. 10749
AUTHORIZING EXECUTION OF A LUMP SUM OPERATING
AGREEMENT WITH SECURITY PACIFIC NATIONAL BANK
WHEREAS, the City is a participant in the Community
Development Block Grant Program authorized under the Housing and
Community Development Act of 1974 as amended; and
WHEREAS, the City has allocated Community Development
Block Grant funds for the purpose of providing financial
assistance for housing rehabilitation activities; and
WHEREAS, Community Development Block Grant Regulations
permit "lump sum" drawdown of said funds for such activities; and
WHEREAS, Section 570.513 of the Regulations requires an
Operating Agreement with a financial institution to receive said
funds;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of Alameda that the City Manager be and hereby is authorized to
execute and the City Clerk to attest on behalf of the City a Lump
Sum Operating Agreement with Security Pacific National Bank.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 15th of October, 1985,
by the following vote to wit:
AYES: Councilmembers, Corica, Hanna, Lucas, Monsef and President Diament - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 16th day of October, 1985.
f
City Clerk of the City of Alameda