HomeMy WebLinkAboutAGENDA REPORT 1993 0922 CC REG ITEM 11G 11 Cit
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AGENDA REPORT
CITY OF MOORPARK
%ORPARK, CALIFC^N;,a
U ly Council Meeflng
TO: Honorable City Council 1992
FROM: Steven G. Hayes, Economic Development Manager W , 4
By- ".
DATE: September 3, 1993 (CC Meeting of 9-22-93)
SUBJECT: A Resolution of the City Council of the City of Moorpark
Approving and Authorizing the City Manager to Execute Public
Works Cooperation Agreements by and between the City of
Moorpark and the Moorpark Redevelopment Agency Relating to
Public Improvements in the Moorpark Redevelopment Project Area
and Public Improvements Outside the Project Area that Provide
Benefit to the Project Area (Confirming Reimbursement of Funds
by the Agency to the City for Public Improvement Projects)
DISCUSSION:
The attached Public Works Cooperation Agreement is being presented to
the City Council and will be also be presented to the Moorpark
Redevelopment Agency (MRA) . This agreement is being presented in
accordance with Section 33670 of the California Community Redevelopment
Law and for auditing purposes for filing the Annual Statement of
Indebtedness. The monies listed in Exhibit "A", attached to the Public
Works Cooperation Agreement for the various project has been previously
approved by the City Council and the MRA.
The attached Agreement also increases the interest rate from the
existing rate which is based on the daily average rate paid by the Local
Agency Investment Fund to pay interest at the lessor of ten percent
(10%) per annum or the maximum rate allowed by law.
RECOMMENDATION:
Staff recommends that the City Council of the City of Moorpark adopt
Resolution No. 93- authorizing the City Manager to execute the attached
Public Works Cooperation Agreement by and between the City of Moorpark
and the Moorpark Redevelopment Agency.
Attachment: Resolution No.93-
Public Works Cooperation Agreement
MRA/SGH016/AGN/09/03/93