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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 the <br /> 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 and <br /> to take all actions and to execute any and all documents necessary and to make all approvals <br /> necessary or appropriate to carry out and implement the terms of this Resolution. <br /> Introduced by Board Member Cox and passed and adopted this 21st day of September, <br /> 2015, by the following vote: <br /> Members of the Board: <br /> AYES: Members Cox, Lee, Lopez, Prola, Reed, Thomas; Chair Cutter (7) <br /> NOES: None (0) <br /> ABSENT: None (0) <br /> ATTEST: <br /> Tamika Greenwood, Secretary <br /> 2514108.1 <br /> RESOLUTION NO. 2015-005 SA 2 <br />