Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />i <br />15� <br />161 <br />i <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />RESOLUTION NO. 3694 <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON'ESTABLISHI`NG A COMMUNITY <br />REDEVELOPMENT AGENCY ADMINISTRATIVE FUND <br />AND LOANING MONIES TO THE REDEVELOPMENT <br />AGENCY OF THE CITY OF COLTON <br />WHEREAS, Section 33610 of the Health and Safety Code of the <br />State of California states that thelegislativebody of a community may <br />appropriate to its Redevelopment Agency such amounts as the legislative <br />body deems necessary and that these amounts can be in the form of a loan <br />to be repaid upon such terms and conditions as the legislative body pro- <br />vides and <br />WHEREAS, Section _33613 1of the Health and Safety Code of the <br />State of California provides that any such monies loaned to a community's <br />Redevelopment Agency shall be kept in a Community Redevelopment Agency <br />Administrative Fund; <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the <br />City of Colton hereby establishes the Community Redevelopment Agency <br />Administrative Fund for the City of Colton; and <br />BE IT FURTHER RESOLVED that the Director of Finance is directed <br />to transfer into this fund from monies which are available $40,000 to <br />be repaid by the Redevelopment Agency of the City of Colton within one <br />year at an interest rate of 7%; and <br />BE IT FURTHER RESOLVED that the attached agreement between the <br />City of Colton and the Redevelopment Agency of the City of Colton is hereby <br />approved. <br />PASSED, APPROVED and ADOPTED this 24th day of May, 1977. <br />ATTEST: <br />HELEN A. RAMOS <br />`4 i. .1. +...o .. .. <br />