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<br />CGM:mf 1/14/83 <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />9287 <br /> <br />f'\'"'rf""~''1 <br />'.. "U' !";,, L <br />\J. . ~ 4 I "J"\ <br /> <br />JAN 1 7 7983 <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF <br />AGREEMENT FOR FINANCING OF CONSTRUCTION OF TRAFFIC <br />SIGNAL PROJECT (MARINE WORLD PARKWAY AND SHOREWAY <br />ROAD) <br /> <br />WHEREAS, Belmont Shores Office Center, Ltd., ("Belmont <br /> <br />Shores") desires to construct a building in the vicinity of <br /> <br />Sem Lane and Shoreway Road in the City of Belmont; and <br /> <br />WHEREAS, the City of Belmont in approving the project by <br /> <br />Belmont Shores has imposed a condition on Belmont Shores that <br /> <br />Belmont Shores construct a traffic signal system at the intersection <br /> <br />of Marine World Parkway and Shoreway Road, the site of which <br /> <br />intersection is located in the City; and <br /> <br />WHEREAS, City and Belmont Shores desire to enter into an <br /> <br />agreement by which Belmont Shores will unconditionally pay to <br /> <br />the City a specified amount for such construction which amount <br /> <br />will be returned to Belmont Shores in the event City does not <br /> <br />construct such traffic signal system; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />That certain agreement entitled "Agreement" (form dated <br /> <br />11/22/82), by and between the City of Redwood City and Belmont <br /> <br />Shores Office Center, Ltd., a copy of which agreement is on <br /> <br />file in the office of the City Clerk, to which copy reference <br /> <br />9287 <br />