HomeMy WebLinkAbout83-158A - ResolutionsRESOLUTION NO. 83-158A
A RESOLUTION OF TIiE CITY COUNCIL OF TIiE CITY OF RANCHO
CUCANONGA, CALIFORNIA, APPROVING A LOit~ TO TIlE R~CHO
CUCAMONGA REDEVELOPHENT AGENCY
W~iEREAS, the City Council, in accordance with the provisions of the
California Community Redevelopment Law, has created a Redevelopment agency
Administrative Fund for the purpose of accounting for administrative expenses
of the Rancho Cucamonga Redevelopment Agency and funds advance therefore by the
City Council; and
WHEREAS, the City Council from time to tome desires to loan funds to
the Rancho Cucamonga Redevelopmerit Agency.
NOW, TIiEREFORE, BE IT RESOLVED by the City Council of the City of
Rancho Cucamonga as follows:
SECTION 1: That an initial loan of $1,500,000 is hereby appropriated
from Reserves to the Rancho Cucamonga Redevelopment Agency Administrative Fund
for administrative costs as they apply to the Rancho Cucamonga Redevelopment
Agency in accordance with the Agency's approved fiscal budget.
SECTION 2: That as increment is received by the Agency, said
increment shall be used to pay off loans from the City of Rancho Cucamonga.
PASSED, APPROVED, and ADOPTED this 19th day of September, 1984.
AYES: Wright, Buquet, Mikels, Dahl, King
NOES: None
ABSENT: None
ATTEST: