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File #: ID-2016-605    Version: 1 Name:
Type: CC Resolution Status: Passed
File created: 9/27/2016 In control: City Council
On agenda: 10/18/2016 Final action: 10/18/2016
Title: Resolution Of The City Council Of The City Of Emeryville Appropriating $1,802,269.68 From Fund 298 (Housing Assets Fund) In Order To Make Timely Debt Service Payments Due November 8, 2016 Pursuant To Promissory Notes Held By The Charles A. And Elizabeth C. Leone Living Trust And The Miriam N. Flynn Trust One UAD 10/5/2001, As Well As Payment To The State Franchise Tax Board, Which Notes Are Secured By Deeds Of Trust Encumbering 5890 And 5900 Christie Avenue, Emeryville, California. (Michael Guina)
Attachments: 1. Staff Report, 2. Resolution

Title

Resolution Of The City Council Of The City Of Emeryville Appropriating $1,802,269.68 From Fund 298 (Housing Assets Fund) In Order To Make Timely Debt Service Payments Due November 8, 2016 Pursuant To Promissory Notes Held By The Charles A. And Elizabeth C. Leone Living Trust And The Miriam N. Flynn Trust One UAD 10/5/2001, As Well As Payment To The State Franchise Tax Board, Which Notes Are Secured By Deeds Of Trust Encumbering 5890 And 5900 Christie Avenue, Emeryville, California.  (Michael Guina)

Recommended Action

Staff recommends the City Council adopt the attached Resolution appropriating $1,802,269.68 from Fund 298 (Housing Assets Fund) in order to make timely debt service payments due November 8, 2016 pursuant to Promissory Notes held by the Charles A. and Elizabeth C. Leone Living Trust and the Miriam N. Flynn Trust One UAD 10/5/2001, as well as payment to the State Franchise Tax Board, which Notes are secured by Deeds Of Trust Encumbering 5890 And 5900 Christie Avenue, Emeryville, California