HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 27HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the Housing
and Redevelopment At-thority of Plymouth, Minnesota was held on the 27th day
of Novimher , 19]x. The following members were present:
The following members were absent: rnmmisaienpr Npiic
Commigsinapr Ault introduced the following Resolution and moved
is adoption:
HRA Resolution No. 21
REQUESTING THE PLYMOUTH CITY COUNCIL TO CONSIDER LENDING CERTAIN OPERATION
FUNDS TO THE PLYMOUTH HRA
WHEREAS, the Plymouth Housing and Redevelopment Authority finds it necessary that
adequate funds always be available for certain essential activities such as the
City's Home Inprovement Grant Program, and
WHEREAS, Hennepin County requires payment of contractors in advance of the
County's disbursement of Community Development Block Grant fends;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE PLYPInKii HOUSING AND REDEVELOPMENT
AUTHORITY OF THE CITY OF PLYMOUTH, MINNESOTA that the Plymouth City Council be
requested to lend monies to the Plymouth HRA for current operating expenses.
FURTHERMORE that these monies are not to exceed $15,000 and that such monies are
to come from the City's investment trust with interest to be paid at the current -
interest rate paid investment trust money.
The motion for the adoption of the foregoing Resolution was duly seconded by
Commissioner Bakke and upon vote being taken thereon, the
following voted in favor t ereof: Chairman_ Spa the .e iccinnarc Atilt-
Bakke tiltBakkeandHunt
The following voted against orabstained: Nene
Whereupon the Resolution was declared duly passe:: and adopted.