Resolution 11231CITY OF ALAMEDA RESOLUTION NO. 11231
AUTHORIZING LOANS 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,
1987 through June 30, 1989; 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
F L. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
CITY OF ALAMEDA that the sum of $50,000 is hereby authorized to
-ff'00 be transferred from the General Fund for fiscal 1987-88 and
f10$46,000 for fiscal 1988-89 to the Alameda Community Improvement
0 f,
f; &Commission Fund as a loan to be repaid to the General Fund at
5E12% interest solely from tax-increment revenues of said
Commission; and
BE IT FURTHER RESOLVED that the Mayor of the City of
\,4 Alameda is hereby authorized to enter into a repayment contract
with 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 7th of July, 1987,
by the following vote to wit:
AYES: Councilmembers Camicia, Haugner, Monsef, Thomas
and President Corica - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of said City this 8th day of
July, 1987.
ttP 0 _
erk of the City of Alameda