HomeMy WebLinkAbout024-91RESOLUTION NO. 24-91
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF DANVILLE
APPROPRIATING FUNDS FOR PAYMENT OF PRINCIPAL AND INTEREST
TO THE BANK OF SAN RAMON VALLEY FOR THE PURPOSE OF FUNDING
CHILD CARE FACILITIES
WHEREAS, Resolution No. 17-90 approved on January 16, 1990
authorized the Town Manager to enter into a loan agreement with the
Bank of San Ramon Valley for the purpose of funding child care
facilities; and
WHEREAS, The Town Council authorized a Financial Assistance
Agreement with the San Ramon Valley School Age Child Care Alliance
for the purpose of allowing the Alliance to install and maintain
child care facilities at Montair and Green Valley Schools; and
WHEREAS, The Agreement with the Alliance specifies that the
Alliance shall make principal payments to the Town and the Town
shall make the first $50,000 of interest payments, and
WHEREAS, The first interest and principal payments are now due and
payable to the Bank of San Ramon Valley;
NOW, THEREFORE, BE IT RESOLVED, by the Town Council of the Town of
Danville that $50,000 be appropriated from the Child Care account
and that $225,000 be appropriated from anticipated revenue from the
San Ramon Valley School Age Child Care Alliance.
PASSED, APPROVED AND ADOPTED by the Town Council of Danville at a
regular meeting on the 5th day of February, 1991, by the following
vote:
AYES:
NOES: NONE
ABSENT: NONE
GREENBERG, LANE, RITCHEY, SCHLENDORF, SHIMANSKY
MAYOR
ATTEST:
City Clerk
APPROVED AS TO FORM:
Cit~ ~torney