HomeMy Public PortalAbout88-082 (05-17-88)RESOLUTION N0. 88-82
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APPROVED AS TO FORM:
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LYNWOOD TO EXTEND THE INTEREST SUBSIDY
AGREEMENT WITH SECURITY PACIFIC NATIONAL BANK
(SPNB) FOR ONE YEAR
WHEREAS, the City desires to continue operation of a
Commercial Property Rehabilitation Loan Program which offers
below-market interest rate loans to upgrade commercial
property within the City; and
WHEREAS, the current operating agreement with Security
Pacific National Bank which facilitates this program is due
to expire May 19, 1988.
NOW, THEREFORE, the City Council of the City of Lynwood
does hereby find, order, determine and resolve as follows:
SECTION 1. The Commercial Rehabilitation Operating
agreement. with Security Pacific National Bank is hereby
extended for a period of one year to May 19, 1989.
PASSED, APPROVED, and ADOPTED this 17th day of
May , 1988. -'"
Y
PAU H. RICHARDS, II., MAYOR
City of Lynwood
ATTEST:
ANDREA L. HOOPER, CITY C ERK
City of Lynwood
APPROVED AS TO CONTENT:
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ENRI'CK KAREFA-JOHNSON
Interim Director of
Community Development
C RNEY
~UCAI ~1K~~
ACCOUNTING U ERVISOR
STATE OF CALIFORNIA )
ss. , ,.. .
COUNTY OP LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, ~~
do hereby certify that the foregoing resolution was passed and
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adopted by the City Council of the City of Lynwood at a regular
meeting held on the 17th day of May 1988, and passed
by the following vote:
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AYES: COUNCILMEMBF.R HEINE, HENNING, D40RRIS, R'ELLS, RICHARDS
NOES: NONE
ABSENT: NONE
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City Clerk,^~City of Lynwood
STATE OF CALIFORNIA )
ss. 1
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of. Lynwood, and
Clerk of: the City Council of said City, do hereby certify that the
above and foreoging is a full, true and correct copy of
Resolution No. 88-82 on file in my office and that said resolution
was adopted on the date and by the vote therein stated.
Dated this 20th day of May 1988.
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City Clerk