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RESOLUTION NO. 86-018
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARSON APPROPRIATING MONEY TO THE CARSON
REDEVELOPMENT AGENCY REDEVELOPMENT PROJECT
AREA NO. 3
THE CITY COUNCIL OF THE CITY OF CARSON HEREBY FINDS,
DETERMINES, RE50LVES AND ORDERS AS FOLLOWS:
Section 1. There is in the treasury of the City of
Carson a special fund known as the Carson Redevelopment Agency,
Redevelopment Project Area No. 3. The money appropriated to
the Agency for administrative expenses in connection with
Redevelopment Project Area No. 3 is kept in such Fund and drawn
therefrom to meet the administrative expenses of the Agency in
substantially the same manner as money is drawn by other agencies
and departments of the City of Carson subject to budgetary
control. Administrative expenses include, without limitation,
administrative expenses and overhead of the Agency and the
expenses of redevelopment _planning and dissemination of redevelop-
ment information.
Section Z. The money appropriated by the City Council
to such Fund is money loaned by the City to the Agency to be
repaid from taxes allocated to the Agency from Redevelopment
Project Area No. 3 pursuant to California Health and Safety Code
Section 33670, or from such other moneys of the Agency available
to repay such loan. Moneys appropriated by the City to such Fund
shall bear interest on the unpaid balance thereof at the rate of
twelve percent per annum from the date of withdrawal from such
Fund to the date of repayment by the Agency to the City.
Section 3. The City Council hereby appropriates to such
Fund the sum of one hundred fifty thousand dollars ($150,000.00).
Such sum is deemed necessary by the City Council for the administra-
tive and overhead expenses of the Agency.
Resolution No. 86-018/Page 2 of 2
Section. The Agency, in its sole discretion, may
subordinate the repayment of such loan and the interest on the
unpaid balance thereof to any other debt or obligation which
may be incurred by the Ardency.
Section 5. The City Clerk is hereby authorized and
directed to transmit a copy of this Resolution to the Agency
together with a request that the Agency adknowledge,.agree to
and accept the terms and conditions of this Resolution and the
loan described herein.
PASSED, APPROVED AND ADOPTED this 18th day of
.. February , 1986.
Mayor
ATTEST:
City C er
APPROVED AS TO FORM:
X6
City Attorney
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF CARSON )
I. Helen S. Rawagoe, City Clerk of the City of Carson, California, do
hereby certify that the whole number of members of the City Council of said City is
five; that the foregoing resolution, being Resolution No. 86-018 was duly and
regularly adopted by the City Council of said City at a regular meeting of said
Council, duly and regularly held on the 18th day of February, 1986, and that the
same was so passed and adopted by the following vote:
AYES:
COUNCIL
MEMBERS:
DeWitt, Egan, Mills, Muise and Calas
NOES:
COUNCIL
MEMBERS:
None
ABSTAIN:
COUNCIL
MEMBERS:
None
ABSENT:
COUNCIL
MEMBERS:
None
A0'. � City Clerk, Cit�rs n, California