HomeMy WebLinkAboutRDA 80-4RESOLUTION NO. RDA 80-4
A RESOLUTON OF THE TUSTIN COMMUNITY REDEVELOPMENT
AENCY OF THE CITY OF TUSTIN, CALIFORNIA ADOPTING
THE ANNUAL BUDGET AND APPROPRIATING REVENUE OF THE
AGENCY FOR THE FISCAL YEAR 1980-81
WHERF. AS, the Executive D~rec[cr has [,.re.~)ared and submitted to the members of
the Tustin Community Redevelopment Agency a proposed annual budqet for the
198O-81 fiscal year, beginning July 1, 1980; and
WHEREAS, the Tustin Community Redevelopment Agency has reviewed this proposed
budget.; and
WHEREAS, the Tustin Community Redevelopment Agency has determined that certain
sums of
revenue of' the agency be appropriated to the activities and projects of
the Agency;
NOW, THEREFORE, the Tustin Community Redevelopment Agency does hereby resolve,
determine and order as follows:
The proceeds of property tax incremental revenue estiimated to be
$704,550 and the carry-over fund balance are to be used as follows:
O[ >era t: 1 o.~;a l r;x?e~ses
C~ F i t.al Improvemen 1..
$ 220,751
$ I , 602,300
S l,B23,05]
If' incremental Fr().~>erty tax revenue and carry-over fur'..d balance
are insu~fJc~.ent t() fund the above a[;?roprJari()ns,the a(;ency Js
auLhorized to borrow u}; to $1,125,000 from the City of Tusl.in
G(H;(}ra] ~'~JF.d as needed in order t.() commence ils vor~ous [~rograms
and l:rojects. Said loan ~s to be fully repa.~d by the a(;ency pr~or
t(.) ,'Jllrle 30, 19~1 wiLh interest at ~Vg per annum.
PASSED and ADOPTED at a regular meeting of the Tustin Community Redevelopment
Agency of the City of Tustin, California held on. the 4th day of August, 1980.
C]iAIR~LAN
RECORDING .~REIAR% C)
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
MARY E. WYNN~ City Clerk and Secretary Clerk of the Community Redevelopment
Agency of the City of Tustin does hereby certify that the whole number of
the members of the City Council as the Community Redevelopment Agency is
five- that the above and foregoing Resolution No. was duly and
regularly introduced, passed and adopted by the City Council as the Commu-
nity Redevelopment Agency held on the 4th day of Auqust, 1980,
by the following vote:
AYES : Members~
~:OES : Members:
Saltarelli, Edgar, Sharp, Hoesterey, Kennedy
None
ABSEI~T~ Members: None
5L~RY E. WYNN, C~y Clerk
City of Tustin, Californi~