#076 07-05-78 Loan to Housing Redevelopment Authoirty0
Resolution # 76'
July 5, 1978
Member Anderson introduced and read the following written resolution and moved
its adoption:
RESOLUTION
(Authorizing Loan to 'lousing & Redevelopment
Authority of Golden Valley, Minnesota)
WHEREAS, the Housing and Redevelopment Authority of Golden Valley,
Minnesota, is in need of temporary operating funds; and
WHEREAS, the City of Golden Valley recognizes the need of the Housing
and Redevelopment Authority of Golden Valley, Minnesota, for temporary operating
funds;
THEREFORE, BE IT RESOLVED, by the City Council of Golden Valley,
Minnesota, that pursuant to Section 462.581, Minnesota Statutes, the City Manager
is authorized to immediately effectuate a loan of City funds to the Housing and
Redevelopment Authority of Golden Valley, Minnesota, in the amount of $30,000
at an annual interest rate of six percent (6%) for a iod of three years.
Adopted July 5, 1978•
ROBERT R. HOOVER, MAYOR
ATTEST:
JOHN MURPHY, CITY CL RK
The motion for the adoption of the foregoing resolution was duly seconded by
Member Thorsen and upon vote being taken thereon, the following voted in favor
thereof: Anderson, Hoover, Johnson, Stockman and Thorsen and the following voted
against the same: none, whereupon said resolution was declared duly passed and
adopted, signed by the Mayor and his signature attested by the City Clerk.