HomeMy WebLinkAbout10-156 - ADMIN Resolution - City Council - 2010/12/20RESOLUTION NO. 10-156
RESOLUTION AUTHORIZING IINTERFUND LOANS
WHEREAS, the City of St. Louis Park has created various special purpose funds; and
WHEREAS, some of those funds may at times run a short term deficit and require an
interfund loan;
NOW THEREFORE BE IT RESOLVED by the City of St. Louis Park City Council:
1. The following interfund loans are approved from the Development Fund as needed:
Fund
Maximum Loan
Elmwood TIF District
$ 5,000,000
Ellipse TIF District
$ 10,000
. Such loans are to be repaid with 4% interest when sufficient resources are available.
Revie
for Administration:
City
Attest:
City Clerk O
Ado ted by e Cit Council December 20, 2010
Mayor