HomeMy WebLinkAboutRes1985-042
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 85-42
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, AUTHORIZING A LOAN AGREEMENT WITH
GATEWAY CHILDREN'S CENTER
WHEREAS, the City Council recognizes the importance of assur-
ing quality child care services within the City of Seward; and
WHEREAS, the City Council is sympathetic with Gateway Chil-
dren's Center's efforts to secure funding to purchase a facility to
house its day care operations; and
WHEREAS, the City has supported the Center's efforts to obtain
state funding to offset a part of the cost of purchasing real property
and relocating the facility; and
WHEREAS, the Center has the option of acquiring property with
improvements suitable to house the Center's operations; and
WHEREAS, the Center's Board of Directors has asked the City to
grant it a loan for a down payment on said real property located at Lots
1 and 2, Block 8, Federal Addition, Seward;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The City Manager is hereby authorized to execute
the loan agreement, attached and incorporated herein by reference as a
part of this resolution, with the Gateway Children's Center in the
amount of $10,000, with principal and interest at 8% per annum payable
over a five year period.
Section 2. The City Manager is further authorized to appro-
priate $10,000 from the General Fund Fund Balance Account No. 101-000-
271-00-00 for the purpose of making the loan authorized in Section 1
above to the Gateway Children's Center.
Section 3. This resolution shall take effect immediately upon
its adoption.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CIg5 OF SEWARD,
ALASKA, this 13 day of May , 19
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 85-42
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
CRIPPS, GILLESPIE, HILTON, MEEHAN, SCHOLL, SIMUTIS & \-.ILLIAMS
NONE
NONE
NONE
APPROVED AS TO FORM:
HUGHES, THORSNESS, GANTZ, POWELL
AND BRUNDIN, Attorneys for the
City of Seward, Alaska
(City Seal)
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Fred B. Arvidson, City Attorney
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