HomeMy WebLinkAbout22393 - RESOLUTIONS - 12/3/2008 RESOLUTION NO. 22393
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, CALLING AND
ACCEPTING THE REPAYMENT OF $1,300,000 IN
PRINCIPAL BY THE COMMUNITY REDEVELOPMENT
AGENCY UNDER THE NOTE TITLED PROMISSORY
NOTE VILLAGE GREEN, DATED FEBRUARY 7, 2008.
The City Council of the City of Palm Springs resolves:
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 $1,300,000 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 3rd day of December, 2008.
David H. Read�3-City Manager
ATTEST:
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mes Thompson, City Clerk
I
Resolution No. 22393
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. 22393 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 3rd day of December,
2008, by the following vote:
AYES: Councilmember Hutcheson, Councilmember Mills, Councilmember
Weigel, Mayor Pro Tern Foat, and Mayor Pougnet.
NOES: None.
ABSENT: None.
ABSTAIN: None.
� es Thompson, City Clerk
City of Palm Springs, California