HomeMy WebLinkAbout22433 - RESOLUTIONS - 2/18/2009 RESOLUTION NO. 22433
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, CALLING AND
ACCEPTING THE REPAYMENT OF $855,000 IN
PRINCIPAL BY THE COMMUNITY REDEVELOPMENT
AGENCY UNDER A PROMISSORY NOTE FOR THE
VILLAGE GREEN.
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 February 6, 2008
of a parcel of land and improvements to the Community Redevelopment Agency of the
City of Palm Springs, commonly referred to as the Village Green, 211 South Palm
Canyon Drive, located within Merged Project Area No. 1. The City Council found the
sale of this parcel of 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 a principal payment of $855,000 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.
aLL )
Tom Wilson, Aging City Manager
ATTEST:
jJmes Thompson, City Clerk
Resolution No. 22433
Page 2
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) $s.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 22433 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 18t' 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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