HomeMy WebLinkAboutCC RES 81-074RESOLUTION N0. 81- 74
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT; CALIFOR��IA, AUTHORIZING AN ADVANCE TO THE CITY
OF PALM DESERT REDEVELOPMFNT AGENCY TO PROVIDE FOR THE
COSTS ASSOCIATED I�IITH THE AMENDMENT OF THE REDEVELOPMENT
PROJECT ARFA BOUNDARIES AND PLAN.
I�HEREAS, the Palm Desert Redevelopment Agency is incurring costs in
connection with a study of the feasibility of amending the present Project
Area Boundaries and Plan; and
IJHERFAS, such costs will become a proper charge against future Tax
Increments generated by the revised project area when in effect.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of
Palm Desert, California.
Section 1. An advance in the amount of $33,250 is hereby authorized
to the Palm Desert Redevelopment A�ency from the Unobligated Fund
Balance of the General Fund.
Section 2. Said advance, for the purposes of defraying the costs
associated with the feasibility study of amending project boundaries
and plan, shall be treated as a loan by the City; shall bear interest
as currentl,y provided for advances to the Agency; and shall be
repaid at such time as the amended project generates sufficient Tax
Increments.
PASSED, APPROVED and A�OPTED on this 14ih day of pqay , 1981, by
the following vote, to wit:
AYES: McPherson, Newbrander, Puluqi, Snyder & Wilson
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
/�Q , ,
,
"SHFILA R. G GAN, CITY� ERK
CITY OF PALM DFSERT, CAL FORNIA
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