Resolution 10894CITY OF ALAMEDA RESOLUTION NO. 10894
APPROPRIATING $71,379 FROM THE GOLF ENTERPRISE FUND
TO PAY A FINAL DEBT OWED ON THE MIF ALBRIGHT GOLF COURSE
WHEREAS, construction of the Mif Albright Par 3 Golf Course
was completed at the end of the year in 1982 at a cost of $277,029,
the project being funded from the following three accounts: General
Fund, $117,029; Dwelling Unit Tax, $100,000; and Golf Enterprise
, Fund, $60,000; and
WHEREAS, it was mandated by the City Council that funding
provided from the Dwelling Unit Tax and the General Fund be repaid
0-1-----,3!/1- with interest at the rate of $50,000 per year over a period of five
years; and
6
WHEREAS, the General Fund obligation has been completely
repaid and only $71,379 remains to be paid on the Dwelling Unit tax
loan; and
WHEREAS, there are no provisions in the 1985-86 Budget to
pay off the final Dwelling Unit Tax payment, and there is more than
sufficient revenue in the Golf Enterprise Fund account to cover the
payment.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of Alameda that the sum of $71,379 be appropriated from the Golf
Enterprise Fund to cover the final debt owed on the Mif Albright
Golf Course.
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 6th of May, 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 7th day of May, 1986.
City Cork of the City o `Afiameda