HomeMy WebLinkAbout18949 - RESOLUTIONS - 12/18/1996 RESOLUTION NO. 18949
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AMENDING THE BUDGET FOR
THE 1996-97 FISCAL YEAR.
WHEREAS Resolution 18840, approving tiie budget for the fiscal year
1996-97 was adopted on June 19, 1996; and
WHEREAS the City Manager has :recommended, and the City Council ,
desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is
authorized to record inter--fund cash transfers as required in
accordance with this Resolu-ion, and that Resolution 18840,
adopting the budget for the 1996-97 fiscal year is hereby amended
as follows:
SECTION 1. ADDI'TIONS
FUND Activity Account Amount
No. 816 0185 _ (to be assigned) $79, 000
Title: CRA North Palm Canyon Desert Shadows
NPC Capital Proj . Project. Area Offsi.te Imrprove-
ments
Purpose: To provide fundw for the offsite improvements for the '
Desert Shadows Project (Linsu Development Corp. )
SECTION 2 . SOURCE Loan from General Fund to be repaid from Net Tax
Increment from project - 5 years at 6% interest beginning at draw down.
FUND Activity Account Amount
No. 111 344 $79, 000
Tittle:
General Fund Reserve for.
Capital Projects
Adopted this 18th day, of December 1996. ,
AYES: Menibers Barnes, Oden, .
NOES: None
ABSENT: -
ABSTAIN: Member Hodges
ATTEST: CITY OF PALM ;SPRINGS, C:ALIFORNIA
By -City Clerk CYty Manager
REVIEWED AND APPROVED .AS TO FORMIC