HomeMy WebLinkAbout75-022RESOLUTION NO. 75-22
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA ANA AMENDING THE CITY BUDGET FOR
THE FISCAL YEAR 1974-1975 BY APPROVING AN
APPROPRIATION TRANSFER FROM THE CITY COUNCIL-
REVENUE SHARING NO. 5-LAND FUND TO THE CITY
COUNCIL-COMMUNITY REDEVELOPMENT AGENCY-LAND
FUND AND DESIGNATING SAID AGENCY FUND AS A
REVOLVING FUND FOR THE PURPOSE OF TRANSFERRING
PREVIOUSLY DESIGNATED MONIES FOR PURCHASE OF
THE SENIOR CITIZENS SITE BY THE COMMUNITY
REDEVELOPMENT AGENCY
WHEREAS, on January 6, 1975, the City Council amended
the budget for the fiscal year 1974-1975 approving a transfer
of $325,000 from Fund 404-117-631 ($275,000.00) and Fund 404-
117-911 ($50,000.00) to the City Council-Revenue Sharing No.
5 Fund - Land, No. 404-117-611 for the purpose of appropriating
said funds for the acquisition of the Senior Citizens Housing
Site; and
WHEREAS, the City Council now desires to transfer said
amount of $325,000 from Fund 404-117-611 to the City Council-
Redevelopment Agency Fund Land, No. 109-134-611 for the purpose
of expending said funds for the acquisition of a site for Senior
Citizens Housing; and
WHEREAS, the City Council desires to designate Fund
109-134 as a Redevelopment revolving fund;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Santa Ana as follows:
1. That the annual budget of the City of Santa Ana for
the fiscal year 1974-1975 is hereby amended transferring $325,000
from City Council-Revenue Sharing No. 5-Land Fund, 404-117-611
to City Council-Redevelopment Agency-Land 109-134-611 to provide
funds for the acquisition of the Senior Citizens Housing site by
the Community Redevelopment Agency.
2. That City Council-Redevelopment Agency Fund No. 109-
134 is hereby designated as a Redevelopment revolving fund pursuant
to Redevelopment Law, Division 24, Part 1, Chapter 6, Article III
of the California Health and Safety Code.
3. That said budget amendment is hereby approved subject
to the condition that the Community Redevelopment Agency of the
City of Santa Ana will comply with Health and Safety Code Section
33624 of the Redevelopment Law, providing that all money received
by the Redevelopment Agency from the sale, lease, or encumbering
of the property acquired with the money from the Redevelopment re-
volving fund in excess of the money required to repay the loans or
interest thereon shall be re-deposited in the revolving fund.
4. That the Finance Director of the City of Santa Ana
is hereby instructed to transfer said amount of $325,000 pursuant
to the above described budget amendment to the Redevelopment Agency
revolving fund as such monies are needed for the acquisition of
properties and the assemblage of the Senior Citizens Housing site
with the authorization of the City Manager.
RESOLUTION NO. 75-22
PAGE TWO
5. That the transfer of monies to the Redevelopment
Agency revolving fund pursuant to said budget amendment
is hereby declared to be a loan from the City of Santa Ana
to the Community Redevelopment Agency of the City of Santa
Ana as such monies are transferred pursuant to the terms
of that certain agreement dated March 12, 1973, between
the City of Santa Ana and the Community Redevelopment Agency
~ the City of Santa Ana which provides that all budgetary
appropriations made by the City to the Redevelopment Agency
shall be considered a loan to the Agency from the City,
and shall be repaid by the Agency at such time as the Agency
may be able to repay said loan with interest at seven percent
per annum.
PASSED AND ADOPTED by the City Council of the City of
Santa Ana at its regular meeting held on the
18th day of February , 1975.
ATTEST:
MAYOR
CLERK OF THE COUNCIL
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.:
CITY OF SANTA ANA )
I, FLORENCE I. MALONE, do hereby certify that I am the
Clerk of the Council of the City of Santa Ana; that the fore-
going Resolution was introduced to said Council at its
regular meeting held on the 18th day of
February , 1975, and was at said meeting passed
and adopted by the following vote, to wit:
AYES: COUNCILMEN: Griset, Garthe, Yamamoto, Evans, Ward
NOES: COUNCILMEN: Markel
ABSENT:
COUNCILMEN: Bricken
CLERK OF THE COUNCIL
APPR~AS TO FORM:
////~MES A. WITHERS, CITY ATTORNEY