HomeMy WebLinkAboutCC RES 79-104RESOLUTIOtJ N0. 79-104
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA, AUTHORIZING AN ADVANCE TO T!iE
PALM �ESERT REDEVELOPMENT AGENCY IN THE AMOUNT OF
$100,000, SUCH ADVANCE TO BE TREATED AS A LOAN AND
REPAID WITH INTEREST.
The City Council of the City of Palm Desert, California, DOES HEREBY
RESOLVE as follows:
That an advance in the amount of $100,000 to the Palm Desert Redevelop-
ment Agency from the City's Civic Center Capital Improvement Reserve 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 shall permit.
PASSED, APPROVED, and ADOPTED by the Cit� Council of the City of
Palm Desert, California, on this 23rd day of August , 1979, by the
following vote, to wit:
AYES: McPherson, Newbrander, ��ilson & Mullins
NOES: None
ABSENT: Brush
ABSTAIN: None
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�D�1 RD D. ULLINS", MAYOR
ATTEST:
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SHEILA R. GILLI-FlAN, CITY CLE�K
CITY OF PALM DESERT, CALIF IA
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