HomeMy WebLinkAboutResolution 92-244 09/21/1992Resolution N®. 92-244 N.C.S.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
of tht~ City Of P~~t~alurY~<~, C~~liforr~i~~
RESOLUTION AUTHORIZING THE CITY MANAGER TO SIGN THE REVISED
SUBORDINATION AGREEMENT FOR CAULFIELD LANE SENIOR
APARTMENTS
WHEREAS, an existing Subordination Agreement was submitted to and approved by City
Council in February 1992 via Resolution No. 92-21 N.C.S.; and
WHEREAS, that existing Agreement names Petaluma Ecumenical Project as the General
Partner of the Borrower, Caulfield Lane Senior Housing Associates; and
WHEREAS, upon completion of construction of the project in June 1992, a new single-
asset nonprofit corporation, Caulfield Lane Senior Housing, Inc., became the General
Partner.
NOW, THEREFORE, BE IT RESOLVED that the Petaluma City Council authorizes the
City Manager to sign a revised Subordination Agreement with the appropriate changes.
CaulAgr / bg-8
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) (I~~i~il~j:~~4~€) meeting form
on the ......21-St.----...-.. day of ...-........Se,~tember ....................... i9-92., by the ~/
following vote: ................~-~.-T..-.............-
City Attorney
AYES: Read, Davis, Woolsey, Sobel, Nelson, Vice Mayor Cavanagh
NOES: None
ABSENT: Mayor H ~o
,~~
ATTEST: .....~":`... .._,. _~~~~~...*~...:'f~~*'.'~°~w:.'~.~^~'Bvx~~=~_~~_:......
City Clerk
CA 10-85
G`ouncil Filenn .........c.~..n....n....................
Res. No......~1.~-.l,.`1C`k....... N.C.S.
x Vice Mayor