HomeMy WebLinkAboutResolution 2002-053 N.C.S. 04/01/2002 Resolution No. 2002-053 N.C.S.
of the City of Petaluma, California
RESOLUTION PROVIDING INTERIM FINANCING FOR THE
PETALUMA COMMUNITY ACCESS CORPORATION
WHEREAS, Petaluma Community Access has approached the City Council for
assistance in providing operating funds to continue the operation of the organization; and,
WHEREAS, the City currently holds on deposit $236,030 in funds that are set aside for
cable access purposes (Fund 806); and,
WHEREAS, Petaluma Community Access wishes to borrow $45,000 of these funds to
provide operating funds to continue the operation of the three access channels; and,
WHEREAS, Petaluma Community Access will repay this loan in eight quarterly
payments beginning on December 31, 2002 in accordance with the established promissory note.
NOW, THEREFORE, BE IT RESOLVED that the City Council hereby authorizes the
City Manager to distribute $45,000 from the balance of funds currently being held by the City in
Fund 806 to the Petaluma Community Access Corporation.
BE IT FURTHER RESOLVED that Petaluma Community Access Corporation will
repay this loan to the City in eight equal quarterly payments of $5,625 beginning on December
31, 2002.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a (Regular) (Adjourned) (Special meeting ~ ~~"~for~
on the ........1st day of .......April......................................, 20~..., by the
following vote: •••••••••••••••Y
Ci Attorne
AYES: Cader-Thompson, Vice Mayor Healy, Maguire, Torliatt
NOES: O'Brien
ABSENT: Moynihan, Mayor Thompson
ATTEST: ............1
.............4i.:...:'~
~~~;r//v,..................................
City Clerk / Mayo
Council File
Res. No.......2Q02-0.5.3.._.....N.C.S.