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RESOLUTION N0. 82- »
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALP1
DESERT, CALIFORNIA, AUTHORIZING AN ADVANCE TO THE CITY
OF PALM DESERT REDEVELOPMENT AGENCY FOR COSTS
ASSOCIATED !JITH THE EXPA�JSION OF THE REDEVELOPMENT
PROJECT AREA BOUNDARIES.
41HEREAS, the Palm Desert Redevelopment Agency has incurred costs
in connection with the expansion of the Redevelopment Pro,ject Area; and,
WHEREAS, such costs will be recovered from future Tax Increments
generated within the expanded Pro,ject Area;
NOW, THEREFORE BF IT RESOLVED by the City Council of the City of
Palm Desert, California, that:
1. An advance in the amount of �29,500 is hereby authorized to the
Palm �esert Recievelopment Agency from the Unobligated Fund
Ralance of the General Fund.
2. Said advance shall be treated as a loan by the City; shall
bear interest as currently provided for advances to the
Agency; and shall be repaid at such time as the receipt of
sufficient Tax Increments from the expanded Project Area
permit.
PASSFD, APPROVED and ADOPTED on thi 5 25th day of Fehr��ary �
1982, by the following vote to wit: y
AYES: Newbrander, Puluqi, Snyder, & tJilson
NOES: None
ABSENT: McPherson
ARSTAIN: None
ATTFST:
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SNEILA R. GILL �l, CITY CL
CITY OF PALM DFSERT, CALIF IA