Legislation # 07-0361 Enactment Number none
Type Resolution Effective Date none
Introduction Date 6/20/2007
Title Resolution Authorizing the Appropriation of $527,440.69 from the Economic Development Fund Balance to the Hampton Redevelopment and Housing Authority for the Draw Against the Line of Credit Extended to Olde Hampton Hotel Associates.
 
Legislation History 07-0361
DateNotice Of ActionDescription
6/20/2007 Adopted
6/11/2007 Received By Clerk's Office
 
View Attachments 07-0361
FileTypeSizeDescription
Scan001 (6).pdf Letter 52K Letter from U.S. Bank dated May 31, 2007
 
Legislation Text 07-0361

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 07-0361

 

Enactment Number: -

 

Resolution Authorizing the Appropriation of $527,440.69 from the Economic Development Fund Balance to the Hampton Redevelopment and Housing Authority for the Draw Against the Line of Credit Extended to Olde Hampton Hotel Associates.

 

BE IT RESOLVED by the Council of the City of Hampton, Virginia that $527,440.69 is hereby appropriated from Economic Development Fund Balance for the purpose of appropriating to the Hampton Redevelopment and Housing Authority funds necessary to make the payment of bond interest demanded by the bond creditors against the line of credit extended by the Hampton Redevelopment and Housing Authority (and funded by the City) to facilitate Olde Hampton Hotel Associates financing of the former Radisson Hotel.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on June 20, 2007.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council