CC Resolution 1993-056^#E RESOLUTION NO. 93-56
A*RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF LA QUINTA, CALIFORNIA
ESTABLISHING A LOAN FROM THE CITY OF LA QUINTA
TO THE LA QUINTA REDEVELOPMENT AGENCY-PROJECT AREA NO. 2
WHEREAS, the activities of the La Quinta Redevelopment Agency
Project Area No.2 cause improvements to be done that are
beneficial to both the City of La Quinta and the La Quinta
Redevelopment Agency; and
WHEREAS, current Redevelopment Agency Project Area No.2
revenues are af a limited nature although additional future
revenues would be forthcoming as development continues; and
WHEREAS, the City of La Quinta desires that the Redevelopment
Agency Project Area No.2 continues with such mutually beneficial
improveme!*ts.
NOW, THEREFORE1 BE IT RESOLVED by the City Council of the City
of La Quinta, California, as follow
The attached Promissory Note between the City of La Quinta and
the La Quinta Redevelopment Agency Pro*ect Area No.2 be approved
in an amount not to exceed $5,121,796.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City
Council of the City of La Quinta, held on this 6th day of July,
1993, by the following vote, to wit
AYES: Council Members Bangerter, McCartney, Perkins, Sniff, Mayor Pena
NOES: None
ABSENT: None
ABSTAIN: None
City of La Quinta, California
City of La Quinta, California
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^#E ii I I
APPROVED AS TO FORM:
* W**
DAWN HONEYWELL Attorney
City of La Quinta, California
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