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RESOLUTION NO. 09-278 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />APPROVING A REVOLVING LINE OF CREDIT AGREEMENT WITH THE <br />PLEASANTON UNIFIED SCHOOL DISTRICT IN AN AMOUNT NOT TO EXCEED <br />$1,200,000 <br />WHEREAS, to assist the Pleasanton Unified School District (the "District") with annual <br />debt payments for the District's Certificates of Participation (COPS), the City of Pleasanton will <br />enter into a Revolving Line of Credit Agreement (the "Agreement") with the District in an amount <br />not to exceed $1,200,000; and <br />WHEREAS, the Agreement shall make the revolving line of credit available to the District <br />for four (4) years, and repayment with interest of any advances made pursuant to the <br />Agreement shall be from the school development impact fees received by the District and <br />placed in the District's Fund 25, with repayment completed within ten (10) years. <br />NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br />PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: <br />SECTION 1. Approves a Revolving Line of Credit Agreement with the Pleasanton <br />Unified School District in an amount not to exceed $1,200,000. <br />SECTION 2. Directs the City Manager to execute all necessary documents for the <br />Agreement. <br />SECTION 3. Appropriates funds from the Capital Improvement Program Budget not <br />currently programmed and is available for this purpose. <br />SECTION 4. City Clerk shall certify to the passage of this resolution and enter it into <br />the book of original resolutions. <br />PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br />a regular meeting held on April 21, 2009. <br />I, Karen Diaz, City Clerk of the City of <br />resolution was adopted by the City Council at <br />2009, by the following vote: <br />Pleasanton, California, certify that the foregoing <br />a regular meeting held on the 215 day of April <br />Ayes: Councilmembers Cook-Kallio, McGovern, Throne, Mayor Hosterman <br />Noes: None <br />Absent: None <br />Recused: Councilmember Sullivan due to a conflict of interest , <br />Karen Diaz, City C <br />APPROVED AS TO FORM: <br />~y/ Michael H. Roush, City Attorney <br />