HomeMy WebLinkAbout5444_CCv0001.pdf RESOLUTION NO, 5444
A RESOLUTION OF THE CITY COUNCIL. OF THE CITY OF REDLANDS, CALIFORNIA
DOCUMENTING A LOAN FROM THE CITY TO THE REDEVELOPMENT AGENCY
WHEREAS, the Redevelopment Agency Capital Projects Fund had a deficit cash balance
at June 30, 1997; and
WHEREAS, the City's General Fund had a reserve cash balance in excess of the
Redevelopment Agency's deficit balance.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF REDLANDS does
resolve as follows:
SECTION I: The City's General Fund will loan to the Redevelopment Agency's Capital
Project Fund the amount of $383,650. The loan will be repaid by the Agency at such time
payment is received by the Agency on its outstanding note receivable. No interest will accrue on
this loan,
ADOPTED, SIGNED AND APPROVED this 6th day of anuary, 1998.
MayAr of the Ci Re la ds
ATTEST:
Ci Clerk
I Lorrie Poyzer, City clerk of the city of Redlands, hereby certify that the foregoing resolution
was duly adopted at a regular meeting thereof held on the 6"' day of January, 1998 by the
following vote:
AYES: Councilmembers Banda, Gilbreath., George, Freedman; Mayor Cunningham
NOES: None
ABSENT None
Cit Clerk