HomeMy WebLinkAboutResolutions 87-340 N.C.S. 12/07/1987Resolution No. g7-340 N.C.S.
of the City of Petaluma, California
RESOLUTION APPROVING DRAFT LOAN DOCUMENTS AND ESCROW
INSTRUCTIONS FOR LOAN TO BURBANK HOUSING DEVELOPMENT
CORPORATION TO PURCHASE THE CHERRY HILLS APARTMENT PROJECT
AND AUTHORIZING THE CITY 1~1ANAGER TO SIGN SAID
DOCUMENTS AFTER FINAL REVIEW BY THE CITY ATTORNEY
WHEREAS on July 6, 1987, per Resolution 8?-220A, the Council agreed to
participate in the purchase of the project; and
WHEREAS, said approval required review by the Council of a binding
document stipulating the terms of use of the funds and development of the
site; and
WHEREAS, on 12/7/87, the City Council did review said draft agreement in
the form of loan documents;
NOW, THEREFORE BE IT RESOLVED that said documents are hereby
approved subject to final review by the City Attorney and that the City
Manager is authorized to sign said documents on behalf of the City.
reso.
REFERENCE:
Under the power and
conferred upon this Council by the Charter of said City.
erry ereby ceei~ y the foregoing Resolution was introduced and adopted by the
Council of the City of Petaluma at a (Regular) eeting
on the ......7th............ day of ........December ............................. 19.$7.., by the
following vote:
AYES: Sobel, Balshaw, Cavanagh, Davis, Tencer, Yice Mayor Woolsey, Mayor Hilligoss
NOES:None
ABSENT
ATTEST
CA 10-85
N ne -
City Clerk
~~c;i F~i~.......704-03-.-...---
Res. No. ..........01.1.-3.40.. N.C.S.
Approved ~s ~b
fo ~~ ~'
r
ity ttorney
dLS
..............