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~. -1 ............- . JHT: 1m: 6/20/69 . n fl 10j f\IA I "",ftlLl l'i L JUL 7 'W RE.20LUT1.0N N o. 6 0 .l 3 ,I RESOLUTION AUTHORIZING EXECUTION OF AGREEMENT BETWEEN CITY OF REDWOOD CITY AND THE REDWOOD CITY DO\VNTOWN ASSOCIATION RELATING TO THE ADMINISTRATION OF FUNDS FOR DOWNTOWN PARKING AND BUSINESS IMPROVEMENT AREA NO. 1 WHEREAS, tile 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 City of Redwood City and Redwood City Downtown Association contracted November 18, 1968, 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 were to be put pursuant to Ordinance No. 1159, as amended,which contract has expired by its own terms; and WHEREAS, the City of Redwood City and the Redwood City Downtown Association now desire to execute a new agreement for the purposes of holding in trust revenues raised by Ordinance No. 1359, as amended; and WHEREAS, an 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 has been prepared and submitted to this Council, and it is the intention and desire of this Council to approve said agreement and authorize its execution;