97-1014 Approving Loan Repayment Plan for Loan to Community Redevelopment Agency (CRA)

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�i .. E RESOLUTION NO. 97-1014 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, APPROVING A LOAN REPAYMENT PLAN FOR A LOAN MADE TO THE CASSELBERRY COMMUNITY jt D -n C:)111 REDEVELOPMENT AGENCY; PROVIDING FOR CONFLICTS, Qi SEVERABILITY AND AN EFFECTIVE DATE �� > WHEREAS, the Casselberry City Commission approved a loan in the amount of $300,0 to the Casselberry Community Redevelopment Agency (CRA) to carry out the approv4d "Casselberry Community Redevelopment Plan;" and WHEREAS, it is the intent of the City Commission that the loan be repaid within a specific period of time and meet certain other specific criteria; NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA: SECTION 1. The loan amount of $300,000 to the Casselberry CRA to carry out the approved Casselberry Community Redevelopment Plan; City of Casselberry Central City District shall be paid back in accordance with the terms and conditions set forth in the attached "Agreement" between the City Of Casselberry and the Casselberry CRA, and the Mayor is hereby authorized to execute the Agreement on behalf of the City. SECTION 2. Conflicts. All Resolutions or parts of Resolutions in conflict with any of the provisions of this Resolution are hereby repealed. SECTION 3. Severability. If any Section or portion of a Section of this Resolution proves to be invalid, unlawful, or unconstitutional, it shall not be held to invalidate or impair the validity, force, or effect of any other Section or part of this Resolution. SECTION 4. Effective Date. This Resolution shall become effective immediately upon its adoption. PASSED and ADOPTED thiday of A.D. 1997. .tea✓ 'T` C r'«x , Bruce Pronovost, Ma or/Commissioner y AT, IHS- &i -.:. co � Thelma McPherson, City Clerk This instrument prepared by: Richard W. Wells, Directory Community Development Department 95 Triplet Lake Drive Ln Casselberry, FL 32707-3399 (=3 r.";