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no such change shall increase the amount of the Promissory Note to an amount greater than <br />$4,372,774 or provide for an interest rate on the Promissory Note in excess of 6.00 %. The Chair, <br />the Executive Director and the Treasurer of the Agency (each, a "Designated Officer"), each acting <br />alone, are hereby authorized and directed to execute, and the Secretary of the Agency is hereby <br />authorized to attest, the Promissory Note for and in the name and on behalf of the Agency. The <br />Agency hereby authorizes the delivery and performance of the Promissory Note. <br />Section 3. Confirmation of Repayment of Promissory Note for the West San Leandro <br />/MacArthur Blvd. Project Area. The Agency confirms that the Promissory Note in the amount of <br />$2,000,000 executed on January 15, 2003 for the benefit of the West San Leandro/MacArthur <br />Boulevard Redevelopment Project Area was repaid in full during the fiscal year ending Jude 30, <br />2004. <br />Section 3. Effective Date. This resolution shall take effect from and after the date of <br />approval and adoption thereof. <br />NOW THEREFORE, the Redevelopment Agency of the City of San Leandro does <br />RESOLVE as follows: <br />That said agreements are hereby approved and execution thereof are hereby authorized. <br />Introduced by Agency Member Badger and passed and adopted this 21St day of June, 2004 <br />by the following called vote: <br />Members of the Agency: <br />AYES: Members Badger, Glaze, Grant, Nardine, Santos, Stephens; Chair Young (7) <br />NOES: None (0) <br />ABSENT: None (0) <br />ATTEST: <br />Marian Handa, Agency Secretary <br />n <br />RESOLUTION NO. 2004 -011 RDA 3 <br />