R 3503
RESOLUTION NO. 3503
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ARROYO GRANDE APPROVING A
FIRST AMENDMENT TO COOPERATION AGREEMENT
BETWEEN THE ARROYO GRANDE REDEVELOPMENT
AGENCY AND THE CITY OF ARROYO GRANDE
WHEREAS, the Arroyo Grande Redevelopment Agency ("Agency") and the City
of Arroyo Grande ("City") entered into a Cooperation Agreement dated as of August 13,
1996, pursuant to which the City agreed to render certain activities, services, and
provide facilities to the Agency, all in order to assist the Agency in carrying out its
functions of the Community Redevelopment Law (Health & Safety Code Sections 33000
et seq,) and the Agency agreed to reimburse the City for all advances made to or on
behalf of the Agency pursuant to the terms of the Cooperation Agreement; and
WHEREAS, Agency and City desire to amend the Cooperation Agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arroyo
Grande that the First Amendment to Cooperation Agreement by and between the City
and the Agency, attached hereto as Exhibit A and incorporated herein by this reference
as though fully set forth herein, is hereby approved; and the Mayor of the City of Arroyo
Grande is authorized and directed to execute said First Amendment to Cooperation
Agreement on behalf of the City of Arroyo Grande.
On motion of Council Member Dickens, seconded by Council Member Runels, and on
the following roll call vote, to wit:
AYES: Council Members Dickens, Runels, Lubin, Ferrara, and Mayor Lady
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted on this 23rd day of January, 2001.
Resolution No. 3503
Page 2
(-L
MICHAEL A. CADy;a~
ATTEST:
~uLDV2-
ORE, DIRECTOR OF ADMINISTRATIVE SERVICES/
DEPUTY CITY CLERK
APPROVED AS TO CONTENT:
S~~ITY MANAGER
APPROVED AS TO FORM:
EXHIBIT A
FIRST AMENDMENT TO COOPERATION AGREEMENT
BETWEEN THE CITY OF ARROYO GRANDE AND
THE ARROYO GRANDE REDEVELOPMENT AGENCY
This First Amendment to Cooperation Agreement is entered into as of this 23rd
day of January, 2001, by and between the CITY OF ARROYO GRANDE, a municipal
corporation ("CITY") and the ARROYO GRANDE REDEVELOPMENT AGENCY, a
public body corporate and politic ("AGENCY").
RECITALS
A. CITY and AGENCY entered into a Cooperation Agreement dated as of August
13, 1996, for the following purposes:
(1 ) To set forth activities, services, and facilities which the CITY will render for
and make available to the AGENCY in furtherance of the activities and
functions of the AGENCY under the Community Redevelopment Law,
California Health & Safety Code Sections 33000, et seq. ("Community
Development Law"); and
(2) To provide that the AGENCY will reimburse the CITY for actions
undertaken and costs and expenses incurred by it for and on behalf of the
AGENCY.
B. Under the Cooperation Agreement, the obligations of the AGENCY constitute an
indebtedness pursuant to Health & Safety Code Sections 33670, et seq., to be
repaid to the CITY by the AGENCY, with interest at the rate of ten percent (10%)
per annum.
C. By this First Amendment to Cooperation Agreement, CITY and AGENCY desire
to modify the rate of interest for funds loaned by CITY to the AGENCY.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, and in consideration of the premises, the parties hereto
do mutually agree as follows:
1. Section 6 of the Cooperation Agreement is hereby amended in its entirety
as follows:
6. The obligations of the Agency under this Agreement
shall constitute an indebtedness of the Agency within the
meaning of Section 33670, et seq. of the Community
Redevelopment Law, to be repaid to the City by the Agency
with interest at the rate of zero percent (0%) per annum.
2. Except as amended herein, all terms and conditions of the Cooperation
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this First Amendment to
Cooperation Agreement as of the date first above written.
CITY OF ARROYO GRANDE
MICHAEL A. LADY, Mayor
ATTEST:
KELL Y WETMORE, Director of
Administrative Services, Deputy
City Clerk
ARROYO GRANDE
REDEVELOPMENT AGENCY
MICHAEL A. LADY, Chair
ATTEST:
KELL Y WETMORE, Agency Secretary
2
---
RESOLUTION NO. 3503
OFFICIAL CERTIFICATION
I, KELLY WETMORE, Director of Administrative Services/Deputy City Clerk of
the City of Arroyo Grande, County of San Luis Obispo, State of California, do
hereby certify under penalty of perjury, that Resolution No. 3503 is a true, full,
and correct copy of said Resolution passed and adopted at a regular meeting of
the City Council of the City of Arroyo Grande on the 23rd day of January, 2001.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed this 26th
day of January, 2001.
1JJ.{V-1~l~uL-
ORE, DIRECTOR OF ADMINISTRATIVE SERVICES/
DEPUTY CITY CLERK
--