HomeMy WebLinkAboutRDA RES 081RESOLUTION NO. 81
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY
OF THE CITY OF PALM DESERT, CALIFORNIA, AUTHORIZING
THE ACCEPTANCE OF AN ADVANCE FROM THE CITY OF PALM
DESERT IN THE AMOUNT OF $750,000. SUCH ADVANCE IS
TO BE TREATED AS A LOAN AND REPAID WITH INTEREST.
The Redevelopment Agency of the City of Palm Desert DOES HEREBY
RESOLVE:
That an advance in the amount of 750,000 authorized by the City
Council of the City of Palm Desert be accepted;
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 the receipts of the Redevelopment Agency shall permit.
PASSED, APPROVED, and ADOPTED on this 22nd day of June ,
1978, by the following vote, to wit:
AYES: Brush, McPherson, Newbrander, Wilson & Mullins
NOES: None
ABSENT: None
ABSTAIN: None
' / 1
,
I n
ARD D. M LLINS, CHAIRMAN
ATTEST: ,
SHEILA R. G L IGAN, S ETARY TO THE
PALM DESERT REDEVELOPMENT AGENCY