Res 86-018RESOLUTION NO. 86-018
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF POWA¥ ~CALIFORNIA
AUTHORIZING A LOAN TO THE POWAY REDEVELOPMENT AGENCY
AND AMENDING ITS BUDGET TO PROVIDE FOR SAID LOAN
WHEREAS, the City Council of the City of Poway (the "City")
desires to authorize a loan to the Poway Redevelopment Agency; and
WHEREAS, the terms and cOnditions of said loan in the amount
of $150,000 are set forth in a loan agreement to be adopted by the
Poway Redevelopment Agency.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF POWAY AS FOLLOWS:
Section 1: That a loan in the amount of $150,000 to the
Poway Redevelopment Agency is hereby authorized.
Section 2: The amount of $150,000 is hereby appropriated
from the City's General Fund Reserves for the purpose of
providing said loan to the Poway Redevelopment Agency.
Section 3: The terms and conditions of said loan shall be
as set forth by Resolution of the Poway Redevelopment Agency
accepting said loan and amending its budget to authorize
expenditure therefrom.
PASSED, ADOPTED AND APPROVE~by ~he City Council of the City
of Poway, California, at a regular me~ting thereoI this 4th day of
March, 1986.
Carl R. Kruse, Mayor
ATTEST:
Marjo[ie K. Wahlsten, City Clerk