HomeMy WebLinkAboutCity Council Resolution 1978-863SITY OF PLYMOUTH 4b
Pursuant to due call and notice thereof, a reouula�r meeting of
the City Council of the City of Plymouth, Minnesota was hel—d on—the
18th day of __ December , 19 78. The following members were
present: Mayor Hunt Ccunci members Hot Neils Seibold and Spaeth
The following members ;ere absent: None
Councilmember Spaeth introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 78-863
A RESOLUTION AUTHORIZING THE CITY'S FINANCE DIRECTOR TO LEND CERTAIN MONIES
FROM THE CITY'S INVESTMENT TRUST ACCOUNT FOR HRA CURRENT OPERATING EXPENSES
WHEREAS, the Plymouth Housing and Redevelopment Authority has requested that
the Plymouth City Council lend sufficient monies to the HRA for current
operating expenses, and
WHEREAS, the Plymouth HRA is reimbursed by Hennepin County for certain
Community Development Block Grant activities;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the City's Finance Director be authorized to lend such monies
as necessary from the City's investment trust account to provide for HRA current
operating expenses. FURTHERMORE these monies are not to exceed $15,000 with an
interest rate not to exceed the current interest rate paid investment trust money.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Neils , and upon vote being taken thereon, the
following vote n door thereof; Mayor Hunt, Councilmembers Hoyt, Neils.
Seibold and Spaeth
Ine 7"O H owing votea against or anstalneo;
Whereupon the Resolution was declared duly