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• RJC:ek:1 / 18/60_7 R E S O L U T I O N N O. 2 RESOLUTION APPROVING AGREEMENT WITH THE STATE OF CALIFORNIA, DIVISION OF SMALL CRAFT HARBORS, FOR A LOAN IN THE AMOUNT OF $300,000 FOR DEVELOPMENT OF A MUNICIPAL MARINA, REPAY- MENT TO BE MADE SOLELY FROM THE GROSS REVENUE OF THE SMALL CRAFT HARBOR, AND AUTHORIZING EXECUTION OF SAID AGREEMENT; AND, REPEALING RESOLUTION NO. 2963. 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 X5801) 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, an agreement between the City of Redwood City and the State of California, Division of Small Craft Harbors, providing for the making of a loan in the amount of Three Hundred Thousand Dollars ($300,000) and the repayment thereof by the City, solely from the gross revenues of the Municipal Marina Project, has been presented to and reviewed by this Council; NOW, THEREFORE: BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY AS FOLLOWS: That certain agreement entitled "Agreement" (form dated 1/18/60), a copy of which is attached hereto marked "Exhibit A," and incorporated herein, to which copy reference is hereby made for full particulars concerning the terms and conditions thereof, is hereby approved and the City Manager is hereby authorized and directed to execute the same for and on behalf of the City of Redwood City; and,