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IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br /> RESOLUTION NO. 201 1- <br /> A RESOLUTION AUTHORIZING AN APPROPRIATION IN <br /> THE AMOUNT OF 52,137,273.49 FROM THE PLAZA <br /> PROJECT AREA TO FUND REPAYMENT OF THE PLAZA <br /> GENERAL FUND LOAN <br /> WHEREAS, in order to aid the Redevelopment Agency of the City of San Leandro <br /> ( "Agency ") in redevelopment activities, the City of San Leandro ( "City ") has previously <br /> advanced not to exceed 52,887,617 to the Agency with respect to the Plaza Project Area; which <br /> obligation was secured by Promissory Note executed on December 5, 2002 for said amount; and <br /> WHEREAS, there is a sufficient fund balance for the Plaza Project Area to make a <br /> payment in the amount of 52,137,273.49, and the Agency desires to use this amount to pay off <br /> the loan secured by said promissory note. <br /> NOW THEREFORE. the Agency hereby authorizes an appropriation in the amount of <br /> 52,137,273.49 from the Plaza Project Area to the City's General Fund. <br /> Introduced by Agency Board Member and passed and adopted by <br /> the Board of Directors of the Redevelopment Agency of the City of San Leandro at a meeting <br /> duly held on the 7th day of March, 2011, by the following vote: <br /> Members of the Agency Board of Directors: <br /> AYES: <br /> NOES: <br /> ABSTAIN: <br /> ABSENT: <br /> ATTEST: <br /> Marian Handa, Agency Secretary <br />