HomeMy WebLinkAboutCity Council Resolution 91-12 RESOLUTION NO.91-12
RESOLUTION OF INTENT OF THE CITY COUNCIL OF THE CITY OF
SARATOGA TO FINANCE CERTAIN CITY IMPROVEMENTS
FROM A PORTION OF THE PROCEEDS OF "PEARL PROGRAM" BONDS
NOW, THEREFORE, BE IT RESOLVED by the City of Saratoga as fol-
lows:
It is the present intent of the City of Saratoga (the "City") to
finance the design, acquisition, improvement, addition,
alteration, construction and equipping of improvements to the
Saratoga Civic Center, 13777 Fruitvale Avenue; the Saratoga
Community Center, 19655 Allendale Avenue; the City of Saratoga
Corporation Yard, 19700 Allendale Avenue; and to acquire in fee a
5.1 acre parcel of land commonly known as the Nelson Gardens~
20851 Saratoga Hills Road, (collectively, the "Project") from a
portion of the proceeds of the $55,000,000 Association of Bay
Area Governments Lease Revenue Bonds (Pooled Projects) Series
1987 (the "PEARL Program"). In the event any item or portion of
such Project is acquired, constructed or improved prior to entry
by the City into a Lease Agreement pursuant to the PEARL Program;
it is the intent of the City to reimburse the costs of such
acquisition, construction or improvements through participation
in the PEARL Program. The City Manager and/or Finance Director
shall designate items or portions of the Project which will be so
re imbursed~
The above and foregoing resolution was passed and adopted at a
regular meeting of the Saratoga City Council held on the 6th
day of Februa. Fy. 1991, by the following vote:
AYES: Councilmembers Anderson, Clevenger, and Mayor Stutzman
NOES: Counci lmembers Kohler and Monia
ABSENT: None
MAYOR
ATTEST:
Deputy City Cler]
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