HomeMy WebLinkAboutReso 82-2000RESOLUTION NO. 82-2000
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING A LOAN AGREEMENT
BETWEEN THE SAN MATEO COUNTY HARBOR DISTRICT
AND Tt-IE CITY OF SOUTH SAN FRANCISCO AND APPROVING
A BUDGET AMENDMENT FOR FISCAL YEAR 2000-2001 THAT
PROVIDES $100,000 IN LOAN FUNDS TO THE SAN MATEO
COUNTY HARBOR DISTRICT FROM THE GENERAL FUND
UNDESIGNATED RESERVE
WHEREAS, the City desires to enter into an loan agreement with the San Mateo County
Harbor District; and
WHEREAS, with the approval of the loan agreement, which was already approved by the
District Board of Commissioners on June 21, 2000, the City will loan the District $100,000; and
WHEREAS, the loan would be repaid over two years at the current State investment pool
rate, about 6%.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco that the City Council hereby authorizes a loan agreement between the San Mateo
County Harbor District and the City of South San Francisco and approves a budget amendment
for Fiscal Year 2000-2001 to provide $100,000 in loan funds to the San Mateo County Harbor
District from the General Fund undesignated reserve.
BE IT FURTHER RESOLVED that the City Manager is hereby authorized to execute the
loan agreement on behalf of the City of South San Francisco.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a Regular meeting held on the 28th
day of June ,2000 by the following vote:
AYES:
Councilmembers Pedro Gonzalez, Eugene R. Mullin and John R. Penna, Mayor
Pro Tern Joseph A. Fernekes and Mayor Karyl Matsumoto
NOES: None.
ABSTAIN: None.
ABSENT: None.
ATTEST:
City Clerk '
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