HomeMy WebLinkAboutRDA RES 120RESOLUTION NO. 120
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
$807,000.00. SUCH ADVANCE TO RE TREATED AS A LOAN AND
REPAID WITH INTEREST.
The Redevelopment Agency of the City of Palm Desert, California,
DOES HEREBY RESOLVE as follows:
That an advance in the amount of $807,000.00 authorized by the
City Council of the City of Palm Desert, California, 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 this 26th day of June , 1980,
by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
McPherson, Newbrander, Puluqi, Snyder & Wilson
None
None
None
(-5'ZZ/7 /
WIL, CHAIRMAN
ATTEST:
SHEILA R. GIL`I2'GAN, SECRE ARYL
PALM DESERT REDEVELOPMEAGENCY
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