HomeMy WebLinkAboutCC RES 78-084RESOLUTION N0. 78-84
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA, AUTHORIZING AN ADVANCE TO THE
PALM DESERT REDEVELOPMENT AGENCY IN THE AMOUNT OF
�750,000. SUCH ADVANCE IS TO QE TREATED AS A LOAN
1 AND REPAID WITH INTEREST.
1
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The City Council of the City of Palm Desert DOES HEREBY RESOLVE:
That an advance in the amount of $750,000 to the Pa1m Desert
Redevelopment Agency from the City's General Fund is hereby authorized;
That said advance shall bear interest at the rate the City could
earn, as determined by the Director of Finance, and shall be repaid to the
City at such time as receipts by the Redevelopment Agency sha11 permit.
PASSED, APPRQVED, and ADOPTED by the City Council of the City of
Palm Desert, California, on this 22nd day of June , 1978, by the
following vote, to wit:
AYES: Brush, McPherson, Newbrander, l�ilson & Mullins
NOES: None
ABSENT: None
ABSTAIN: None
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E{jWA D. MULLINS, MAYQR
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ATTEST:
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SHEILA R. GIL GAN, CITY ERK
CITY OF PALM DESERT, CALIFORNIA