HomeMy WebLinkAbout264 RDA_CCv0001.pdf RESOLUTION NO. 264
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS,
CALIFORNIA DOCUMENTING A LOAN FROM THE CITY TO THE REDEVELOPMENT
AGENCY
WBEREAS, 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 AGENCY BOARD OF DIRECTORS does resolve as
follows:
SECTION 1: 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.January, 1,998.
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ATTEST:
Seyfetary
I Lorne Poyzer, Secretary of the Redevelopment Agency of the City of Redlands, California, do
hereby certify that the foregoing Resolution was duly adopted at a regular meeting hereof held on
the 6"' day of January, 1998 by the following vote of the Redevelopment Agency:
AYES: Members Banda, Gilbreath, George, Freedman; Chairman Cunningham
NOES: None
ABSENT None
'Se—cWtary