Resolution No. 6003
~
.
,
RESOLUTION NO. 6003
A .. RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF VERNON APPROVING AND RATIFYING
APPROPRIATIONS FOR THE OPERATING COSTS OF
THE REDEVELOPMENT AGENCY OF THE CITY OF
VERNON FOR FISCAL YEARS 1989/1990 AND
1990/1991, AND CONFIRMING THE LOANS
PERTAINING THERETO
WHEREAS, the City council by Resolution No. 5574 on
December 13, 1988, approved a Loan Agreement for Initial
Operating Costs By and Between the City of Vernon, California,
and the Redevelopment Agency of the City of Vernon; and
WHEREAS, the City Council by Resolution No. 5639 on
June 27, 1989 budgeted and appropriated $143,674.00 for the
Redevelopment Fund during fiscal year 1989/1990; and
WHEREAS, the Redevelopment Agency by Resolution Nos.
RA-6 dated September 5, 1989, and RA-25 dated January 2, 1991,
adopted a final budget for the fiscal year 1989/1990 in the
amount of $462,795.00; and
WHEREAS, the City Council By Resolution No. 5778 on
June 26, 1990, budgeted and appropriated $259,160.0'0 for
Redevelopment Operations during fiscal year 1990/1991; and
WHEREAS, the Board of Directors of the Redevelopment
Agency by Resolution No. RA-26 adopted a budget for fiscal year
1990/1991 in the amount of $575,760.00, and will be considering
a recommendation to amend Resolution No. RA-26 to reflect actual
operating expenditures for a total amount of $682,736.00 during
said fiscal year; and
WHEREAS, said Loan Agreement for Initial Operating
Costs requires the City Council to make an appropriation for
the amounts loaned to the Redevelopment Agency.
, '
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF VERNON AS FOLLOWS:
SECTION 1: The City Council of the City of Vernon
hereby finds and determines that the recitals contained
hereinabove are true and correct.
SECTION 2: In addition to the amount budgeted by the
ci ty Council to the Redevelopment Agency for fiscal year
1989/1990, the City Council hereby approves and ratifies the
appropriation of the sum of Three Hundred Nineteen Thousand One
Hundred Twenty-one Dollars ($319,121.00) for the operating costs
of the Redevelopment Agency in fiscal year 1989/1990.
SECTION 3: In addi tion to the amount budgeted by the
City Council to the Redevelopment Agency for fiscal year
1990/1991, the City Council hereby approves and ratifies the
appropriation of the sum of Four Hundred Twenty-three Thousand
Five Hundred Seventy-six Dollars ($423,576.00) for operating
costs of the Redevelopment Agency in fiscal year 1990/1991.
SECTION 4: Said amounts have been loaned to the
redevelopment Agency pursuant to and. subject to the terms and
conditions of the Loan Agreement for Initial Operating Costs.
SECTION 5: The City Council hereby finds that the
total amounts loaned to the Redevelopment Agency pursuant to
said Loan Agreement for Initial Operating Costs amount to Four
Hundred Sixty Two Thousand Seven Hundred Ninety-five Dollars
($462,795.00) for fiscal year 1989/1990 and. six Hundred Eighty-
two Thousand Seven Hundred Thirty-six Dollars ($682,736.00) f.or
fiscal year 1990/1991.
- 2 -
, '
SECTION 6: The City Clerk of the city of Vernon shall
certify to the passage of this resolution and thereupon and
thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 22nd day of October, 1991.
ATT~
BRUCE V.
..~....... //~~~'
_ Y4~~~
MALKENHORST, City Clerk
- 3 -
.......-.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
STATE OF CALIFORNIA )
)ss
COUNTY OF LOS ANGELES)
I, BRUCE V. MALKENHORST, City Clerk of the City of
Vernon, do hereby certify that the foregoing Resolution, being
Resolution No. 6003, was duly adopted by the City Council of the
City of Vernon at an adjourned regular meeting of the City
Council duly held on Tuesday, October 22. 1991. and thereafter
was duly signed by the Mayor of the City of Vernon.
~
/~
BRUCE V. MALKENHORST, City Clerk
(SEAL)
- 4 -