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File Number: 15-510 <br />be in January 2016; and <br />WHEREAS, a loan agreement (the “Loan Agreement”) in the amount of $779,051.00 <br />has been negotiated between the City of San Leandro and the Successor Agency to the <br />Redevelopment Agency of the City of San Leandro to pay for enforceable obligations of the <br />Successor Agency, a copy of which is attached, and is presented to this Successor Agency <br />board; and <br />WHEREAS, the Successor Agency Governing Board is familiar with the contents of the <br />Loan Agreement; and <br />WHEREAS, the Executive Director recommends approval of the Loan Agreement. <br />NOW, THEREFORE, the governing board of the Successor Agency to the <br />Redevelopment Agency of the City of San Leandro does RESOLVE as follows: <br />Section 1. The above recitals are true and correct and are incorporated herein in their <br />entirety. <br />Section 2. The Loan Agreement in the amount of $779,051.00 is hereby approved by <br />the Successor Agency Board, substantially in the form presented to this Board; <br />Section 3. The Loan Agreement will occur contingent upon the approval of the ROPS <br />guaranteeing the repayment of the Loan amount. <br />Section 4. The Executive Director is hereby authorized to execute the Loan Agreement <br />and to take all actions and to execute any and all documents necessary and to make all <br />approvals necessary or appropriate to carry out and implement the terms of this Resolution. <br />2514108.1 <br />Page 2 City of San Leandro Printed on 9/15/2015