HomeMy WebLinkAboutReso 93-078 - Extending Term of agreement between the COR & economic development Corp for Economic Dev Revolving Loan Fund RESOLUTION NO. _q3-79
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
EXTENDING THE TERM OF THE AGREEMENT BETWEEN THE CITY OF
REDDING AND THE ECONOMIC DEVELOPMENT CORPORATION FOR THE
ECONOMIC DEVELOPMENT REVOLVING LOAN FUND, AND AUTHORIZING
THE MAYOR TO SIGN SAME
WHEREAS, the City Council previously approved extension of the Agreement for the Economic
Development Corporation to administer the Revolving Loan Fund through March 31, 1993; and
WHEREAS, the CDAC is scheduled to initiate a review of the EDC RLF Program in March; and
WHEREAS, the City Council approved an Agreement with the Economic Development Corporation for
the administration of the Revolving Loan Fund for a term of twelve (12) months from December 1, 1991
through November 30, 1992; and
WHEREAS, it is in the best interest of the City of Redding to extend this Agreement to May 31, 1993;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redding as follows:
1. Amendment No. 2 to the Agreement between the City of Redding and the Economic Development
Corporation extending the term of the Agreement to May 31, 1993, is hereby approved.
2. The Mayor of the City of Redding is hereby authorized and directed to sign all necessary documents
on behalf of the City of Redding, and the City Clerk is hereby authorized and directed to attest the signature of
the Mayor and to impress the official seal of the City of Redding on the aforesaid documents.
3. A true copy of Amendment No. 2 to the Agreement referred to herein is attached hereto and made a
part hereof.
I HEREBY CERTIFY that the foregoing resolution was introduced and read at a regular meeting of the
City Council of the City of Redding on the 16thday of March 1993, and was duly adopted at
said meeting by the following vote:
AYES: COUNCIL MEMBERS: Anderson, Arness , Dahl , Kehoe and Moss
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
a
CHARLIE MOSS, Mayor
City of Redding
ATTEST:
CONNIE STROMAYER, C Cl rk
FORM APPROVED:
Lti
R DALL A. HAYS, City Attorney D:\30\EDc-2.REs
"C
AMENDMENT NO. 2 TO AGREEMENT BETWEEN CITY OF REDDING AND
ECONOMIC DEVELOPMENT CORPORATION FOR AN ECONOMIC
DEVELOPMENT REVOLVING LOAN PROGRAM
This Amendment No. 2 to Agreement with the Economic Development Corporation for an Economic
Development Revolving Loan Program is made and entered into by and between the CITY OF REDDING, a
municipal corporation, hereinafter referred to as "CITY" and the ECONOMIC DEVELOPMENT
CORPORATION, a California non-profit corporation, hereinafter referred to as "EDC."
WITNESSETH:
WHEREAS, CITY has established a Revolving Loan Fund for Economic Development; and
WHEREAS, the City Council approved an Agreement with EDC for the administration of the Revolving
Loan Fund for a term of twelve (12) months from December 1, 1991 through November 30, 1992; and
WHEREAS, on January 5, 1993, the City Council also approved an extension of the Agreement to
March 31, 1993; and
WHEREAS, it is in the best interest of CITY to extend this Agreement to May 31, 1993;
NOW, THEREFORE, BE IT RESOLVED as follows:
Section 2. The first sentence under TERM/TERMINATION shall be changed as follows: "The term of
this Agreement shall be for the period beginning December 1, 1991 and ending May 31, 1993." All other
sentences under this section shall remain unchanged.
CITY OF REDDING
ATTEST:
By:
CONNIE STROHMAYER, City Clerk CHARLIE MOSS, Mayor
FORM APPROVED: ECONOMIC DEVELOPMENT CORPORATION
By:
RANDALL A. HAYS, City Attorney Chairman of the Board
D:\30\EDC-2.RES