HomeMy WebLinkAboutReso 75-16 Coral Avemom
ii.f vacant land, located at 2783 Coral Avenue, further identified as Assessor's Parcel Number
APN) 065�38&015 (Property); and
ssociation with the Cloisters residential subdivision; and
• I • • • -. -. • I • • •- •erty; and
\greement for the Property; and
_ Oversight/Finance Advisory Committee (CFAC) recommendation • same, to pay
own the 2011 United States Department of Agriculture (USDA) Certificate of Participation
Loan) • - construction of - Fire Administration Building.
Building Loan.
When those proceeds I available to the City, City staff will have CFAC review that use
within the context of the thencurrent economic and fiscal conditions, Prior to transmittal
of
• _ proceeds
• _e.• •. pay down
• _. Loan.
Loan,If CFAC recommends utilization of those proceeds for purposes other than paying down
the I will bring an agenda• I1 for Council• •- •
The City Council may, at its pleasure, review the CFAC recommendation and adjust the
direction -forthResolution.
Resolution No. t o-16
Page 2
PASSED AND ADOPTED, by the City Council %J the City of Morro Bay, at
meeting thereof held on the 15th day of November, 2016, by the following vote:
AYES: Irons,
NOES: None
Headding, Johnson, Smukler
ABSENT: Makowetsk
ABSTAIN: None
i
NS
, a0layor
ATTEST:
/' � )
NA SWANSON, City Clerk
GI regular