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5781
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1990
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5781
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Last modified
12/6/2004 2:48:05 PM
Creation date
11/5/2014 12:19:24 PM
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City Ordinances
Passed
12/10/1990
Ordinance Number
5781
Bill Number
7991
Introdate
11/19/1990
Description
Adopting TIF funding for financing improvements within Olive Boulevard central tax increment finance district, approving the financing, providing for a subaccount to finance improvements in Westover,
Introduced By
Schoomer
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Allocation Fund for purposes of paying redevelopment project <br />costs as they shall deem necessary, desireable, convenient or <br />proper. <br /> <br /> Section ~. The proposal by Developer to develop the <br />Westover Area and to enter into financing arrangements with <br />the City relating to improvements in the Westover Area are <br />hereby approved. <br /> <br /> Section ~. The City Manager is hereby authorized to <br />enter into the Agreement, the Note, and the Pledge Agreement, <br />with such changes thereto as shall be desirable to carry out <br />the purposes of the Plan and this Ordinance. The City <br />Manager is hereby authorized and directed to take any and all <br />actions and to execute and deliver for and on behalf of the <br />City any and all additional certificates, documents, <br />agreements or other instruments as may be necessary, <br />desirable, convenient, or proper in order to carry out the <br />matters herein authorized. <br /> <br /> Section ~. The City Council hereby approves, ratifies <br />and confirms all acts heretofore taken by the City Manager <br />and the Finance Director of the City in connection with the <br />implementation of the Plan. <br /> <br /> Section Z. This Ordinance shall be in full force and <br />effect after the date of its passage and approval as provided <br />by law. <br /> <br />PASSED and APPROVED this <br /> <br />ATTEST: <br /> <br /> CITY CLERK <br /> <br />lOth day of December , 1990. <br /> <br />CERTIFIF, D TO BE CORRECT AS TO FORM. <br /> CITY AT~NEY <br /> <br />-3- <br /> <br /> <br />
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