HomeMy WebLinkAboutPCDC Resolution 85-12 12/16/1985 RESOLUTION 85-12
PETAI~IJMA COMMUNITY DEVELOPMENT COMMISSION
AUTHORIZE REPAYMENT OF
197G LOAN FROM CITY OF $50,000
WHEREAS, the Petaluma Community Development Commission borrowed
$50,000 from the City of Petaluma as authorized by City Council Resolution 7282 NCS
authorizing said advance; and,
WHEREAS, the Petaluma Community Development Commission now wishes to
repay that advance from the City of Petaluma at the rate of $5,000 per year:
NOW THEREFORE BE IT RESOLVED by the Petaluma Community Development
Commission as follows:
1. Pursuant to a February, 1976, agreement between the City of Petaluma and the
Petaluma Community Development Commission for a loan of $50,000, said loan
shall be repaid at the rate of $5,000 per year.
2. This action concurs with City Council Resolution 85-382 NCS approving the
amendment to the $50,000 loan to insert a payment schedule.
Adopted this 16th day of December, 1985, by the following vote:
AYES: Cavanagh, Davis, Woolsey, Tencer, Vice Chairman Balshaw, Chairman Mattei
NOES: None
Absent: Bond
Fred V. attei, Chairman
ATTEST:
Patricia E. Bernard, Recording Secretary