HomeMy WebLinkAbout22434 - RESOLUTIONS - 2/18/2009 RESOLUTION NO. 22434
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, CALLING AND ACCEPTING THE
REPAYMENT OF $1,265,000 IN PRINCIPAL BY THE
COMMUNITY REDEVELOPMENT AGENCY UNDER A
PROMISSORY NOTE FOR FRANCES STEVENS PARK.
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES HEREBY RESOLVE
AS FOLLOWS,
SECTION 1. The Council of the City of Palm Springs, pursuant to authority provided
under Health and Safety Code Section 33220, approved the sale on December 12,
2007 of a parcel of land and improvements to the Community Redevelopment Agency
of the City of Palm Springs, commonly referred to as Frances Stevens Park, located
within Merged Project Area No. 1. The City Council found the sale of this parcel or land
to the Community Redevelopment Agency of the City of Palm Springs will aid in the
planning, undertaking, construction, and operation of redevelopment within Merged
Project Area #1.
SECTION 2. Pursuant to the Promissory Note executed by the Community
Redevelopment Agency for the above-mentioned property, the City Council hereby calls
for fiscal year 2009.10 principal payments of $855,000 and $410,000, and authorizes
and directs the City Manager to execute all documents related to the repayment of
principal, to accept payment, and to execute such other documents as may be
reasonably necessary or prudent to complete this transaction as provided in this
Resolution.
ADOPTED this 18th day of February, 2009.
Tom Wilson, Acting City Manager
ATTEST:
es Thompson, City Clerk
Resolution No. 22434
Page 2
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 22434 is a full, true and correct copy, and was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on the 18th day of February,
2009, by the following vote:
AYES: Councilmember Foat, Councilmember Hutcheson, Councilmember
Weigel, and Mayor Pougnet.
NOES: None.
ABSENT: Mayor Pro Tern Mills.
ABSTAIN: None.
es Thompson, City Clerk
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