Resolution 11346CITY OF ALAMEDA RESOLUTION NO. 11346
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 fund
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 and any required technical amendments thereto with Security
Pacific National Bank for the period from December 1, 1987 through
November 30, 1989.
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 17th of November, 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 18th day of
November, 1987.
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City Clerk of the City of Alameda