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~- ., ... . . DES:yc:ll/18/68 ORIG/~JAL' RES 0 L UTI 0 N ---------- N.O.~ . , ~ J' RESOLUTION AUTHORIZING EXECUTION OF AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND THE REDWOOD CITY DOWNTOWN ASSOCIATION RELATING TO THE ADMINISTRATION OF FUNDS FOR DOWNTOWN PARKING AND BUSINESS IMPROVEMENT AREA NO. 1 WHEREAS, the City of Redwood City did, by Ordinance No. 1359, adopted May 27, 1968, as amended, establish Downtown Parking and Business Improvement Area No. 1 in a portion of the City of Redwood City in accordance with Section 36000, et seq., of the Streets and Highways Code of the state of California; and WHEREAS, the Redwood City Downtown Association is a non-profit corporation of the State of California, the general purposes of which are identical to the purposes for which revenues are to be .raised under the aforesaid Ordinance No. 1359, as amended; and WHEREAS, the Redwood City Downtown Association is the successor in interest to the unincorporated association which has heretofore, during the period July I, 1968 through November 15, 1968, made expenditures for certain of the uses and purposes for which revenue has been raised under Ordinance No. 1359, as amended; and WHEREAS, the City of Redwood City desires to ratify the prior expenditures made aforesaid and reimburse the above mentioned Association, as successor in interest of the unincorporated association having made such expenditures: and WHEREAS, the City of Redwood City desires to contract with said Association for the purposes of holding in trust revenues raised by Ordinance No. 1359, as amended, and administering such revenues in accordance with certain of the uses and purposes for which such revenues are to be put pursuant to Ordinance No. 1159, as amended; and WHEREAS, the .Redwood City.Downtown Association desires to so hold in trust, and to so administer, such funds: and