HomeMy WebLinkAboutRDA RES 022REDEVELOPMENT AGENCY RESOLUTION NO. 22
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY OF THE
CITY OF PALM DESERT, CALIFORNIA, AUTHORIZING THE ACCEPTANCE
OF ADDITIONAL ADVANCES FROM THE CITY OF PALM DESERT IN THE
AMOUNT OF $221,950 SUCH ADVANCE TO BE TREATED AS A LOAN AND
BE REPAID WITH INTEREST.
The Redevelopment Agency of the City of Palm Desert,
DOES HEREBY RESOLVE as follows:
That additional advances of funds in the amount of
$221,950 (Two Hundred Twenty-one Thousand Nine Hundred Fifty
Dollars), authorized by the City Council of the City of Palm
Desert, be accepted as a loan to be repaid to the City of Palm
Desert, with interest on the same at the rate of 8% (eight per-
cent), per annum.
PASSED, APPROVED and ADOPTED by the Redevelopment Agency
of the City of Palm Desert, this 8th day of April
1976, by the following vote:
AYES: McPherson, Mullins, Newbrander, Seidler & Brush
NOES: None
ABSENT: None
ATTEST:
NOEL JI BR1dSH , CHAIRMAN
H R E L. URL$TJR , Executive Director
City of Palm Desert, California