HomeMy WebLinkAboutResolutions 86-298 N.C.S. 10/27/1986~~~~ ~ ~ ~~86 1 '~
l~esoluti®n N®, 86-298 ~.C.S.
of the City of Petaluma, California
ACCEPTING AIRPORT LOAN
SON-4-86-L-4 FROM
THE STATE OF CALIFORNIA FOR $125,000.00
BE IT RESOLVED by the City Council of the City of Petaluma as follows:
1. The City accepts California Airport Loan
SON-4-86-L-4 in the amount of $125,000.00 to
construct Phase II of the airport fueling facility.
2. Said loan shall be repaid at an interest rate of
6.9435 percent over a fifteen year period.
3. Said loan shall be repaid in successive annual
payments of $8,333.34 plus accrued interest
computed on a daily basis.
4. Additional payments on principal and interest may be
made at any time without penalty .
5. Construction of said project shall be completed by
December 31, 1987, unless a time extension is granted in
writing by the State of California.
6. The Mayor or City Manager is authorized to execute all
documents, on behalf of the City, in connection with this
loan .
Under the power and authority conferred upon this Council by the Charter of said
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the
Council. of the City of Petaluma at a (Regular) (gam; (~) meeting
on the .....27th.....----- day of ----------------- October---------....---..-...-, 1986..:, by the
following vote:
AYES: SOBEL, WOOLSEY, CAVANA(~I, BALSHAW, VICE MAYOR TENCER, MAYOR MATTEI
NOES:
ABSENT: DAMS
ATTEST: ...--- •- •• .................•------•---•---........-......-....--••-- ----......---...............
City Clerk
Attorney
a w
Mayor
Council Filple...- .. ..n...p...................' ..
CA 10-85 Res. No...06 ~90......... N.C.S.