HomeMy WebLinkAboutReso. 1987 - 230 - Approving the financing of the evergreen facility with consolidated financial resources inc _
• . .. .
RESOLUTION NO. S'7•Z•D
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE FINANCING OF THE EVERGREEN FACILITY WITH
CONSOLIDATED FINANCIAL RESOURCES , INC. IN THE AMOUNT OF
$487, 000. 00 , AND AUTHORIZING THE CITY MANAGER To SIGN ALL
NECESSARY DOCUMENTATION IN CONNECTION THEREWITH.
WHEREAS, the City Council of the City of Redding has
determined that a true and very real need exists for the
City-owned Evergreen Property and Improvements at the Redding
Municipal Airport; and
WHEREAS , the Director of Finance recommends that the City
finance said property and improvements by obtaining a loan from
Consolidated Financial Resources, Inc. in the amount of
$487, 000 . 00 ; and
WHEREAS, it is in the best interests of the City of Redding
that said loan be acquired;
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of
the City of Redding as follows:
1 . That all of the above recitals are true and correct;
2. That the filing of an application for said loan in the
amount of $487, 000. 00 from Consolidated Financial Resources, Inc.
to the City of Redding is hereby authorized;
3. That the City Manager be and hereby is authorized to
sign the loan application and all other necessary documentation
in connection with said loan on behalf of the City of Redding;
and
a
1 r
• • . .
4 . That the City Clerk is hereby authorized and directed
to attest the signature of the City Manager and to impress the
official seal of the City of Redding on the aforesaid
documentation, when appropriate.
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 4th day of August , 198'7, and was
duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Carter, Gard, Johannessen, & Dahl
NOES: COUNCIL MEMBERS : None
ABSENT: COUNCIL MEMBERS: Fulton
ABSTAIN: COUNCIL MEMBERS : None
MIKE DAHL, Mayor
City of Redding
ATTEST:
75
ETHEL A. NICHOLS, City Clerk
FORM APPR VED:
A7,
tRANDALL A. HAYS , City Attorney
-2-