Resolution 11051CITY OF ALAMBDA RESOLUTION NO. 1I051
Resolution Authorizing Execution of an
Amendment to the Loan Agreement and Related
Documents Between the City of Alameda and the
United Pilipinos of Alameda
WHEREAS, the City of Alameda has programmed $45,000 in prior year
Urban Development Action Grant Loan Repayment funds and $50,000 in FY
1988-87 Community Development Block Grant funds for the purpose of
assisting in the acquisition of a facility to be operated as an
emergency shelter; and
WHEREAS, the UPA has acquired a suitable shelter facility in the
City of Alameda, utilizing UDAG Loan Repayment funds, a State graut, and
a $45'000 private interim loan; and
WHEREAS, the UPA now desires to pay off its private loan using
$45,000 in FY 86-87 CDBG funds which became available July l, 1986 and
have been budgeted for assisting the acquisition; and
W8OBE&B, disbursement of said CDBG funds to UPA in the form of a
oero-1utoreot, deferred loan requires execution of an amendment to the
existing loan agreement between the City and UPA;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Alameda that the City Manager is hereby authorized to execute an
amendment to the Loan Agreement and related documents between the City
of Alameda and the United Pilipinos of Alameda,
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 18th of November, 1986,
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 19th day of
November, 1986.
CityCClerk of the City of Alameda