Resolution 10658CITY OF ALAMEDA RESOLUTION NO. 10658
AUTHORIZING A LOAN TO, AND THE EXECUTION
OF A REPAYMENT AGREEMENT WITH,
THE ALAMEDA COMMUNITY IMPROVEMENT COMMISSION
WHEREAS, there has been presented to the City Council a
proposed budget for Community Improvement activities from
July 1, 1985 through June 30, 1986; and
WHEREAS, said budget provides for expenditures of funds
for the purpose of planning and creating a Community Improvement
project for the City of Alameda
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
CITY OF ALAMEDA that the sum of $62,000 is hereby transferred
from the General Fund for fiscal year 1985 -86 to the Alameda
Community Improvement Commission Fund as a loan to be paid back
to the General Fund at 12% interest solely from tax - increment
revenues of said Commission; and
BE IT FURTHER RESOLVED that the Mayor of the City of
Alameda is hereby authorized to enter into a repayment contract
th the Alameda Community Improvement Commission.
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 June, 1985,
by the following vote to wit:
AYES: Councilmembers Corica, Hanna, Lucas and Acting President Monsef - 4.
NOES: None.
ABSENT: President Diament - 1.
IN WITNESS WHEREOF, I have hereunto set n0' hand and affixed the
official seal of said City this 19th day of June, 1985.
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City Clerk of the City of Alameda