1992-142 - Consenting to Financial Participation by the LG Redevelopment Agency in Construction of the Parking Lot #4 Project22030 -03 Il,.N DJO:bri 7/i 5/92
RESOLUTION NO. 1992 - 142
A RESOLUTION OF THE LOS GATOS TOWN COUNCIL CONSENTING TO
FINANCIAL PARTICIPATION BY THE LOS GATOS REDEVELOPMENT
AGENCY IN CONSTRUCTION OF THE PARKING LOT #4 PROJECT
RESOLVED, by the Town Council (the "Council ") of the Town of Los Gatos (the
"Town "), County of Santa Clara, California, that
WHEREAS, pursuant to Section 33445 of the Community Redevelopment Law (Health
and Safety Code, Division 24, Part I) and with the consent of the Town, that the Los Gatos
Redevelopment Agency (the "Agency ") may pay all or part of the cost of installation and
construction of a publicly owned building or structure and may enter into agreements with the
Town of Los Gatos (the "Town ") for this purpose; and
WHEREAS, the Agency wishes to assist the Town in the financing of the construction of
the Parking Lot #4 Project (the "Project "); and
WHEREAS, the site of the Project is within the Central Los Gatos Redevelopment
Project Area (the "Project Area "), adopted by Ordinance No. 1882, and said site is publicly owned
and the facilities will be of benefit to the Project Area; and
NOW, THEREFORE, it is hereby DECLARED, ORDERED AND DETERMINED, as
follows:
(1) That the Project is within the Project Area, and is of benefit to the Project Area.
Town. (2) That no other reasonable means of financing the Project is available to the
BE IT FURTHER RESOLVED by the Town Council that the Council consents to
payment by the Agency of all or a portion of the cost of construction of the Project.
BE IT FURTHER RESOLVED that the Town of Los Gatos intends to enter into a
Reimbursement Agreement with the Agency for this purpose, a copy of which is on file with the
Secretary of the Agency, and said Agreement will create an indebtedness of the Agency for the
purpose of completing the Redevelopment Plan for the Project Area.
PASSED AND ADOPTED at a regular meeting of the Town Council held on the
20th day of July, 1992 by the following vote:
COUNCIL MEMBERS:
AYES: Randy Attaway, Joanne Benjamin, Steven Blanton, Brent Ventura
Mayor Eric D. Carlson
NAYS: None
ABSENT: None
ABSTAIN: None
SIGNED:
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
CLERK OF THE TOWN OF LOSj ATOS
LOS GATOS, CALIFORNIA