HomeMy WebLinkAbout090-93RESOLUTION NO. 90-93
REMOVING $427,201 IN LOANS PAYABLE FROM THE ACCOUNTS OF THE
REDEVELOPMENT AGENCY OF THE TOWN OF DANVILLE
WHEREAS, the Redevelopment Agency of the Town of Danville has a loan outstanding in
the amount of $427,201 due to the Town of Danville; and
WHEREAS, the Agency has no tangible assets to repay the loan in the near future; and
WHEREAS, the Capital Improvement Fund can absorb the loan without fiscal impact on
projects currently planned in the five year Capital Improvement Program; and
WHEREAS, removing the $427,201 in loans will more accurately reflect the financial
condition of the Redevelopment Agency and the Capital Improvement Fund; now,
therefore, be it
RESOLVED, that the Town Council of the Town of Danville does hereby authorize the
removal of $427,201 in loans payable from the accounts of the Redevelopment Agency of
the Town of Danville and the removal of the corresponding reserve for advances due
from the accounts of the Capital Improvement Fund effective June 30, 1993.
APPROVED by the Danville Town Council at a Regular Meeting on August 3, 1993, by the
following vote:
AYES:
NOES:
ABSTAINED:
ABSENT:
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/.CITY ATTORNEY
UNABLE TO LOCATE
ORIGINAL SIGNED DOCUMENT
MAYOR
ATTEST:
CITY CLERK
II
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