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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br />RESOLUTION NO. 2016-168 <br />RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A LOAN <br />AGREEMENT AND PROMISSORY NOTE BY AND BETWEEN THE CITY OF SAN <br />LEANDRO AND THE SAN LEANDRO IMPROVEMENT ASSOCIATION IN THE <br />AMOUNT OF $285,000 FOR THE PURPOSE OF FUNDING PUBLIC <br />IMPROVEMENTS IN THE DOWNTOWN FROM THE CITY'S GENERAL FUND <br />UNRESTRICTED RESERVES <br />WHEREAS, San Leandro Improvement Association, a non-profit organization, desires to <br />construct public improvements in the Downtown; and <br />WHEREAS, the loan agreement and promissory note between the City of San Leandro <br />and San Leandro Improvement Association, a copy of which is attached, is presented to this City <br />Council; and <br />WHEREAS, the City Council is familiar with the contents thereof, and <br />WHEREAS, the City Manager recommends approval of said agreement. <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br />That the City shall loan an amount not to exceed $285,000 to San Leandro Improvement <br />Association to assist in the construction of public improvements in the Downtown in the City of <br />San Leandro and the City Manager is hereby authorized to execute all documents necessary to <br />make the loan, subject to approval as to form by the City Attorney. <br />Introduced by Councilmember Prola and passed and adopted this 19th day of December, <br />2016, by the following vote: <br />Members of the Council: <br />AYES: Councilmembers Lee, Lopez, Prola, Reed, Thomas; Mayor Cutter (6) <br />NOES: None (0) <br />EXCUSED: Cox (1) <br />ATTEST: <br />Tami eenwood, City Clerk <br />RESOLUTION NO. 2016-168 <br />