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HomeMy WebLinkAbout87-240 - Resolutions RESOLUTION NO. 87-240 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA APPROVING A FORM OF REIMBURSEMENT AGREEMENT IN CONNECTION WITH CERTAIN PUBLIC IMPROVEMENTS IN THE RANCHO REDEVELOPMENT PROJECT AREA WHEREAS, the City of Rancho Cucamonga (the "City") has made certain expenditures (the "City Expenditures") on behalf of the Rancho Cucamonga Redevelopment Agency (the "Agency") with respect to various public improvements provided for in the redevelopment plan for the Rancho Redevelopment Project; and WHEREAS, at the time the City Expenditures were made, it was the intention of the Agency and the City that the City Expenditures be regarded as an advance of the aggregate amount thereof from the City to the Agency obligated to repay such amount to the City at a later date; and WHEREAS, there has been presented to this meeting a form of Reimbursement Agreement by and between the City and the Agency, dated as of May 1, 1987, setting forth the terms of the Agency's obligation to reimburse the City in the amount of the City Expenditures. Section 1. Reimbursement Agreement. This City Council hereby approves the form of Reimbursement Agreement presented to this meeting, and the Mayor or Mayor Pro Team and the City Clerk are hereby authorized and directed to execute and deliver the Reimbursement Agreement in said form with such changes therein as the officers executing the same may approve, such approval to be conclusively evidenced by the execution and delivery thereof. Section 2. Effective Date. This Resolution shall take effect immediately upon adoption. PASSED, APPROVED, and ADOPTED this 6th day of May, 1987. AYES: Stout, Brown, Wright NOES: None -' ABSENT: Buquet, King Dennis L. Stout, Mayor Resol uti on No. 87-240 Page 2 ATTEST: I, BEVERLY A. AUTHELET, CITY CLERK of the City of Rancho Cucamonga, California, do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the City Council of the City of Rancho Cucamonga, California, at a regular meeting of said City Council held on the 6th day of May, 1987. Executed this 6th day of May, 1987 at Rancho Cucamonga, California.