R 2479
RESOLUTION NO. 2479
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARROYO GRANDE
AUTHORIZING THE LENDING OF FEDERAL AID URBAN }'UNDS TO
THE CITY Ol~ A'fASCADERO
'"- WHEREA..':;, the City of Anoyo Grande currently has an unexpended balance of
Federal Aid Urban Funds of $2,750; and
WHEREAS, the City of Arroyo Grande has no current projects approved in which
to expend said funds; and
WHEREAS, the City of Atascadero ha.~ expressed a desire to borrow the Federal
Aid Urban Funds for an approve!! project; and
WHEREAS, if said funds are not appropriated for a specific approved project by
September of 1991, they will be redistributed among other agencies;
NOW, THEREFORE, BE IT RESOLVED that the City of Arroyo Grande does
hereby authorize the lending of Arroyo Grande's unexpended Federal Aid Urban Funds
in the amount of $2,750 to the City of Atascadero with the understanding that the City
of Atascadero will return said funds in equal amount within a five year period.
On motion of Council Member Smith, seconded by Council Member Olsen, and
on the following roll call vote to wit:
AYES: Council Members Smith, Olsen and Mayor Pro Tern Moots
NOES: None
ABSENT: Mayor Millis and Council Member Dougall
-
the foregoing Resolution was passed and adopted this 25th day of June, 1991.
~ /}/~
GENE MOOTS, MAYOR PRO TEM
ATIEST: a.
A VIS, CITY CLERK
APPROVED AS TO FORM:
I, A. DAVIS, City Clerk of the City of Arroyo Grande, County
-.--.- of San Luis Obispo, State of California, do hereby certify under penalty
of perjury that the foregoing Resolution No. 2479, is a true, full and
=rrect =py of said Resolution passed and adopted at a regular Ireeting
of said Council on the 25th day of June, 1991.
WITNESS my hand and the Seal of the City of Arroyo Grande aft ixed
this 1st day of July, 1991.
~a. ~
CITY CLERK