1974-010RESOLUTION NO. 74R -10
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM APPROVING THE APPROPRIATION OF
FUNDS AS A LOAN TO THE REDEVELOPMENT AGENCY
OF THE CITY OF ANAHEIM FROM THE CONTINGENCY
FUND AND AUTHORIZING THE MAYOR AND CITY CLERK
TO EXECUTE SAID AGREEMENT.
WHEREAS, pursuant to the California Community
Redevelopment Law, a City Council may appropriate to a
redevelopment agency such amounts as the City Council deems
necessary for the administrative expenses and overhead of the
Agency. That law permits such amounts to be paid to the
agency as a loan to be repaid upon such terms and conditions
as the City Council may provide.
NOW, THEREFORE, BE IT RESOLVED by the City Council
as follows:
1. The sum of $25,146.00 is hereby appropriated as a
loan to the Redevelopment Agency from the General
Fund to a special fund hereby established as the
Redevelopment Agency Administrative Fund. The
Redevelopment Agency Administrative Fund shall be
used for administrative expenses and overhead of
the Agency. In addition to the common under-
standing and usual interpretation of the term,
"administrative expense" includes, but is not
limited to, expenses of redevelopment planning
and dissemination of redevelopment information.
2. The Agency shall annually submit to the City
Council a proposed budget of its administrative
expenses. The proposed annual budget must be
adopted by the City Council and the Redevelop-
ment Agency subject to such conditions and re-
strictions upon the expenditure or encumbrance
of the money as the City Council deems appro-
priate,
3. Funds may be drawn from the Redevelopment Agency
Administrative Fund upon the request of the Agency
to meet or to be prepared to meet the administra-
tive expenses of the Agency by means of the Agency
filing a Request for Payment with the City Finance
Director and paid by means of a City warrant.
4, The Agency is authorized to expend funds from its
Central Bank Account upon the determination by the
Director of Finance of the City that the expendi-
ture is consistent with the Agency budget approved
by the City Council and the Agency.
5, The sum appropriated is to be paid to the Agency as
a loan to be repaid as follows:
-1-
6, The Agency shall file a detailed report of all its
transactions, including a statement of all revenues
and expenditures at annual intervals on or before
September 30, as of each year ending June 30.
THE FOREGOING RESOLUTION is approved and signed by me
this 8th day of January 1974
ATTEST:
(SEAL)
STATE OF CALIFORNIA
COUNTY OF ORANGE ss,
CITY OF ANAHEIM
MES :jh
a. Simple interest shall accrue until paid at
the rate of 7% per annum from the time
amounts are paid to the Agency for deposit
into the Central Bank Account.
b, The amounts paid to the Agency, as well as
accrued interest, shall be repaid by the
Agency from funds which become available to
pay the costs, loans, moneys advanced to, or
indebtedness incurred by the Agency.
c. If no funds become available for such purposes,
then the money appropriated and accrued
interest need not be repaid,
ABSENT: COUNCILMEN: PEBLEY
�v r i vc
OR OF I 2HE CITY OF
1, ALONA M. FARRENS, CITY CLERK OF THE CITY OF ANAHEIM,
DO HEREBY CERTIFY THAT THE FOREGOING IS THE ORIGINAL
�>f1 RESOLUTION NO. 74R -10 DULY PASSED AND ADOPTED
CITY CLEIU( OF THE CITY OF ANAHEIM gY THE ANAHEIM CITY COUNCIL ON January 8 1974
CITY CLERK
I, ALONA M. FARRENS, City Clerk of the City of Anaheim,
do hereby certify that the foregoing Resolution No.74R -10 was
passed and adopted at a regular meeting of the City Council held
on the 8th day of January 1974 by the following
vote of the members thereof;
AYES: COUNCILMEN: STEPHENSON, SNEEGAS, THOM and
DUTTON
NOES: COUNCILMEN: NONE
AND I FURTHER CERTIFY that the Mayor of the City of
Anaheim approved and signed said Resolution on the 8th day of
January 1974
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the seal of the City of Anaheim this 8th day of
January 1974
CITY CLERK OF THE CITY OF ANAHEIM