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REG:yc:l /11/60 -7 <br /> • 111 <br /> RESOLUTION NO. 2963 <br /> RESOLUTION APPROVING AGREEMENT WITH THE STATE OF CALIFORNIA, <br /> DIVISION OF SMALL CRAFT HARBORS, FOR A LOAN IN THE AMOUNT <br /> OF 0300,000 FOR DEVELOPMENT OF A MUNICIPAL MARINA, REPAY- <br /> MENT TO BE MALE SOLELY FROM THE GROSS REVENUE OF THE SMALL <br /> CRAFT HARBOR, AND AUTHORIZING EXECUTION OF SAID AGREEMENT <br /> WHEREAS, the City of Redwood City made application to the <br /> State of California in May, 1958, for a Three Hundred Thousand <br /> Dollar (0300,000) loan pursuant to the provisions of the Small <br /> Craft Harbors Law (Div. 5.7 (commencing at Sec. 5801) of the <br /> Public Resources Code) for the development of the first phase <br /> of the Redwood City Municipal Marina; and <br /> WHEREAS, said loan was approved by the Division of Small Craft <br /> Harbors in January, 1959, by the Legislature in February, 1959, and <br /> received final approval from the Small Craft Harbors Commission in <br /> November, 1959; and <br /> WHEREAS, an agreement between the City of Redwood City and <br /> the State of California, Division of Small Craft Harbors, providing <br /> for the making of a loan in the anount of Three Hundred Thousand <br /> Dollars (0300,000) and the repayment thereof by the City, solely <br /> from the gross revenues of the Municipal Marina Project, has been <br /> presented to and reviewed by this Council; <br /> NOW, THEREFORE: <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY <br /> AS FOLLOWS: <br /> 1. That certain agreement entitled "Agreement" (form dated <br /> 1/11/60), a copy of which is presently on file in the office of <br /> the City Clerk, to which copy reference is hereby made for full <br /> particulars concerning the terms and conditions thereof, is hereby <br /> approved and the City Manager is hereby authorized and directed <br /> to execute the same for and on behalf of the City of Redwood City. <br /> .. ;: $: <br />