HomeMy WebLinkAboutRDA 94-09
RESOLUTION NO. RDA 94-9
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
TUSTIN, CALIFORNIA, APPROVING ACQUISITION OF A $3,000, 000
WORKING CAPITAL LOAN FROM FIRST INTERBTATE BANK OF
CALIFORNIA
The Redevelopment Agency of the City of Tustin
does hereby resolve as follows:
The Redevelopment Agency finds and determines as
follows:
a.
The Redevelopment Agency requires and has
sought a three million dollar ($3,000,000)
transactional loan for normal working capital
requirements of the South Central Project
Area.
Be
First Interstate Bank of California has
offered the Redevelopment Agency such a loan.
The general terms and conditions of the loan
documents offered by First Interstate Bank of
California are reasonable and acceptable.
II.
The Redevelopment Agency of the City of Tustin
approves and accepts the general terms and
conditions of the loan documents offered by First
Interstate Bank of California as presented in the
May 16, 1993 letter from Anthony R. Gabriele,
Assistant Vice President, Orange County Corporate
Banking, et al.
III. The Executive Director and/or Director of Finance
are authorized to negotiate the final terms and
conditions of the loan and, thereafter, to execute
all necessary documents related to said loan.
PASSED AND ADOPTED by the Redevelopment Agency of
the City of Tustin at a regular meeting held on the 20th
day of June, 1994.
Redevelopment Chairperson
ATTEST:
Mary E. ~nn
City Cl e~fk
a:.rk~cap.rso
City of Tustin
REDEVELOPMENT AGENCY RESOLUTION CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF TUSTIN )
SS
RESOLUTION NO. RDA 94-9
Mary E. Wynn, City Clerk and Recording Secretary of the Community
Redevelopment Agency of the City of Tustin, California, does hereby certify
that the whole number of the members of the Community Redevelopment Agency
is five; that the above and foregoing resolution was passed and adopted at
a regular meeting of the Tustin Community Redevelopment Agency held on the
20th day of June, 1994, by the following vote:
AGENCY MEMBER AYES:
AGENCY MEMBER NOES:
AGENCY MEMBER ABSTAINED:
AGENCY MEMBER ABSENT:
Saltarelli, Potts, Doyle, Thomas
None
None
Worley
nn,