HomeMy WebLinkAbout22386 - RESOLUTIONS - 11/5/2008 RESOLUTION NO. 22386
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF PALM SPRINGS, CALIFORNIA, CALLING AND
ACCEPTING THE REPAYMENT OF $1,450,000 IN
PRINCIPAL BY THE COMMUNITY REDEVELOPMENT
AGENCY UNDER THE NOTE TITLED PROMISSORY
NOTE VISITORS CENTER, 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 Palm Springs Visitor Center, 2901 North
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$1,450,000 and authorizes
and directs the City Manager to execute all documents related to the
p 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 5th day of November, 2008.
David H. Ready, Cites ager
ATTEST:
es Thompson, City Clerk
Resolution No. 22386
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. 22386 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 5�h day of November,
2008, by the following vote:
AYES: Councilmember Hutcheson, Councilmember Weigel, Mayor Pro Tern Foat,
and Mayor Pougnet.
NOES: None.
ABSENT: Councilmember Mills.
ABSTAIN: None_
es Thompson, City Clerk
ity of Palm Springs, California 0f z—"f 1605