Res 83-072RESOLUTION NO. 83-072
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF POWAY APPROVING A COMMUNITY REDEVELOPMENT
BUDGET FOR FISCAL YEAR 1983-84 AND LOANING
FUNDS TO THE POWAY REDEVELOPMENT AGENCY
WHEREAS, the City Council of the City of Poway (the
"City"), in accordance with the provisions of the California
Community Redevelopment Law, has created a Community
Redevelopment Agency Administrative Fund for the purpose of
accounting for administrative expenses of the Poway
Redevelopment Agency (the "Agency") and keeping funds advanced
therefor by the City Council; and
WHEREAS, the City Council desires to loan funds to the
Agency from the City's General Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF POWAY AS FOLLOWS:
Section 1: The budget of the Agency for fiscal year
1983-84 attached to this resolution as Exhibit "A" and
incorporated herein by reference, is hereby approved in the
amounts and for the purposes shown on said Exhibit "A".
Section 2: $ 151,300 is hereby appropriated from
the General Fund to the Community Redevelopment Agency
Administrative Fund for administrative expenses of the Agency
in accordance with the Agency's approved budget for fiscal year
1983-84 as a loan to the Agency bearing interest at the rate of
12% per annum to be repaid in accordance with the Schedule
attached hereto as Exhibit "B" and incorporated herein by
reference.
Section 3: The loan from the City to the Community
Redevelopment Agency Administrative Fund for administrative
expenses of the Agency, as set forth in the Agency's approved
budget for fiscal year 1983-84, constitutes an indebtedness of
the Agency within the meaning of Article 6, Chapter 6, of the
California Community Redevelopment Law.
Section 3: The expenditure of monies from the Community
Redevelopment Agency Administrative Fund for administrative
expenses of the Agency as set forth in said budget is hereby
authorized, subject to compliance with the same procedure
established by the City for the expenditure of funds by other
agencies and departments of the City subject to budgetary
control.
Section 4: As required by the Community Redevelopment
Law, the Agency shall file with the City Council a detailed
report of all of its transactions with respect to the Community
Redevelopment Agency Administrative Fund, including a statement
of all revenues and expenditures, no less than annually.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
Poway Redevelopment Agency this 27th day of September, 1983,
Chairman of the~Poway
Redevelopment Agency
ATTEST:
ecre~'a~y to the Poway
Redev~opment Agency
5830P/2345/00
--2--
CITY OF POWAY
DEPARTMENTAL ACTIVITY DETkIL
Department: Activity: Activity
Poway Redevelopmant fbde:
Redevelop~mnt Agency Agency Administration
Obj. 1982-83 1982-83 1983-84 1983-84
Gode Expense Classification Budget Estimated Proposed Approved
Personnel Expense
Range Position Title
Agency Members ( 5 )
111 Salaries - Special 5,400
Total Personnel 5,400
Operations and Maintenance
141 Legal Fees 20,250
144 Audit Services 5,000
148 Special Studies 56,500
260 Reimbursed Mileage 2,700
270 Travel & Meetings 500
280 Legal 5btices/Advertising 1,000
282 Postage 4,500
311 Printing 1,000
315 Publications & Dues 350
411 Office & Stationary Supplies 300
413 Photographic Supplies 200
523 Other Fees 3,500
560 Administration (Staff Time) 50,000
Total Operations and Maintenance 145,800
Capital Outlay
Total Capital Outlay
Activity Total $151,200
EXHIBIT 2A
EA~/RIT B
Agency shall pay City from any fuD~s which may be legally available to Agency
for such repayment, including, but not limited to, ~ax increments accuring to
Agency purs~ant to the adopted redevelopment plan in accordance with Sections
33670-33674 of the CoLLu~unity Redevelopment Law or from the proceeds of future
bond issues.
The City understands that agency has bccn activated in order to implement rede-
velopm~nt activities within the City of Poway and that priority .for repayment to
City shall be at the discretion of the Agency.