HomeMy WebLinkAboutRDA 93-08
RESOLUTION NO. RDA 93-8
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
TUSTIN, CALIFORNIA, APPROVING ACQUISITION OF A $3,000,000
LINE OF CREDIT FROM FIRST INTERSTATE BANK OF CALIFORNIA
The Redevelopment Agency of the City of Tustin
does hereby resolve as follows:
I.
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.
B.
First Interstate Bank of California has
offered the Redevelopment Agency such a loan.
C.
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 24, 1993 letter from Steven A. Zamolo, 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 7th
day of June, 1993.
ATTEST:
Jim Po'~ts
Redevelopment Chairperson
..'4ary E..',, %<ynn i'~'
City Clerk
J i z: [ lnc.~rc'. .rse
City of Tustin
REDEVELOPMENT AGENCY RESOLUTION CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF TUSTIN )
ss
RESOLUTION NO. RDA 93-8
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
7th day of June, 1993, by the following vote:
AGENCY MEMBER AYES:
AGENCY MEMBER NOES:
AGENCY MEMBER ABSTAINED:
AGENCY MEMBER ABSENT:
Potts, Saltarelli, Pontious, Puckett, Thomas
None
None
None
Mary E. ,~nn, Cit~)Clerk