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• • ^.JC:e:: :11/13/59 -10 <br /> A G R E E M E N T <br /> THIS AGREEMENT, made and entered into this day of <br /> , 1959, by and between the STATE OF CALIFORNIA, <br /> acting by and through the DIVISION OF SMALL CRAFT HARBORS, <br /> DEPARTMENT OF NATURAL RESOURCES, hereinafter called "STATE ", <br /> and the CITY OF REDyOOD CITY, a municipal corporation of the <br /> State of California, hereinafter called "APPLICANT "; <br /> 1 T N E S S E T H: <br /> iEREAS, APPLICANT has filed with STATE its application for <br /> a construction loan in the amount of Three Hundred Thousand <br /> Dollars ($300,000.00) for a project pursuant to Section 5801 <br /> et seq. of the Public Resources Code; and, <br /> WHEREAS, STATE has determined that said project is feasible; <br /> and, <br /> WHEREAS, by Assembly Concurrent Resolution No. 30, adopted <br /> on February 16, 1959, the Legislature of the State of California <br /> has approved said loan; and, <br /> :'7PEREAS, APPLICANT represents that there has not been re- <br /> ceived by it a written protest to such loan sinned by owners of <br /> one - half or more of the assessed valuation of taxable property <br /> in said City; and, <br /> WHEREAS, STATE desires to loan to APPLICANT, and APPLICANT <br /> desires to borrow from STATE the abovementioned sum of Three <br /> Hundred Thousand Dollars ($300,000.00) to be repaid by APPLICANT <br /> to STATE solely and exclusively from the proceeds of the project <br /> referred to in paragraphs 5 and 9 hereof; <br /> NOT, THEREFORE, it is mutually agreed by and between the <br /> parties as follows: <br />