HomeMy WebLinkAboutCC RES 76-057RESLUTION NO. 76-57
A RESOLUTION O! ! E CItY OOUNCIL O 17ls CI'R OF PAU4 DESERT. ' i i
GLIl RNIA. 11U!'lIORiZ2[IC ADDIMONAL ADVAIICEg Tp 'fliS PAt21 DESERT F+
ACS Ci IR 'It18 M101JIft OT $ 6,000. SOQI M MVANCL► :
'! 0 SE ?RFJ1tED AS A LQAiI AND 10 dE REPAID WITH IIITEREST. ';
The Citr Council of thr Citr of Pal Desert, Californis, DOES qEREdT
RESOLVE s follow:
'[fi t said Cit Council authorizes sdditionsl sdvances to the PaL Deaert
Redevelop ent 1lsenc as follows:
Pro the rear ead surplus, the asount of $76,000. The advance to the
Redevelop ent Age cy is for the folloring purposes:
(1) For co plete econo ic aaalysis for the Core Area in the a ount
oE $16.000;
(2) For prelLinerp planning of the resaining blocks in the Redrvelop ent
Area in the asount of Sb0,000.
The advances to the Redevelopment Ageacr ahall be treated as a loan to
be repaid by said Agency with interest on the saee at [he rate of Sx (eight
percent) per annum.
PASSED. MPROVED AND ADOpl'Ep by the Citq Council of [he City of Pal■
Desert, G lifornia. thia 29th day of April, 1976, by the following vote, to
vit:
AYES:
NOEs:
ABSENT:
11nSTAIN:
McPherson, Mullins, Newbra der, Seidler 6 Brush
None
None
NOne
ATfPST:
j
l4QtOST L. i{flltLBUR't J itr Ierk ' —
Citr of PaL Desert. California
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