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{ . 111E :yC . {:12/11/59 -7 ? i • • T R E S O L U T I ON NO. 2 93 0 RESOLUTION APPROVING APPLICATION OF THE CITY OF REDWOOD CITY TO THE STATE OF CALIFORNIA, DIVISION OF SMALL CRAFT HARBORS, FOR A LOAN IN THE AMOUNT OF $230,000, FOR DEVELOPMENT OF THE SECOND PHASE OF THE REDWOOD CITY MUNICIPAL MARINA, REPAYMENT TO BE MADE SOLELY FROM THE GROSS REVENUE OF THE SMALL CRAFT HARBOR WHEREAS, the City of Redwood City made application to the State of California in May, 1958, for a Three Hundred Thousand Dollar ($300,000) loan pursuant to the provisions of the Small Craft Harbors Law (Div. 5.7 (commencing at Sec. 5801) of the Public Resources Code) for the development of the first phase of the Redwood City Municipal Marina; and, WHEREAS, said loan was approved by the Division of Small Craft Harbors in January, 1959, by the Legislature in February, 1959, and received final approval from the Small Craft Harbors Commission in November, 1959; and, WHEREAS, the City of Redwood City is actively proceeding with the development of the first phase of the Redwood City Municipal Marina as contemplated by the terms of the loan application and agreement and in conformance with the provisions of the Small Craft Harbors Law and the plans and specifications therefor as approved by the Division; and, WHEREAS, the City of Redwood City is now prepared to commence the second phase of the Municipal Marina project; and, WHEREAS, the Council has reviewed the cost estimates and the schedule of loan repayment and the statement of operating expenses and revenues applicable to the second phase of the project; and, WHEREAS, after a review of the foregoing estimates and state- ments, the Council of the City of Redwood City finds (1) that an additional construction loan of Two Hundred Thirty Thousand Dollars ($230,000) will complete the second phase of the Municipal Marina project pursuant to the Master Plan of development for the project, 1