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IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br /> RESOLUTION NO. 2011 -006 RUA <br /> A RESOLUTION AUTHORIZING AN APPROPRIATION IN THE <br /> AMOUNT OF $2,137,273.49 FROM THE PLAZA PROJECT AREA <br /> TO FUND REPAYMENT OF THE PLAZA GENERAL FUND <br /> 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 $2,887,617 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 $2,137,273.49, 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 /> $2,137,273.49 from the Plaza Project Area to the City's General Fund, to be held in a separately <br /> designated account. <br /> Introduced by Agency Board Member Reed and passed and adopted by the Board of <br /> Directors of the Redevelopment Agency of the City of San Leandro at a meeting duly held on the <br /> 7th day of March, 2011, by the following vote: <br /> Members of the Agency Board of Directors: <br /> AYES: Members Cutter, Gregory, Prola, Reed, Souza, Starosciak; Chair Cassidy (7) <br /> NOES: None (0) <br /> ABSENT: None I f� (0) <br /> ATTEST: —/ 1kaA- ANN �I f - aAAG� �_ <br /> Marian Handa, Agency Secretary <br />