HomeMy WebLinkAbout14-09 - ADMIN Resolution - Economic Development Authority - 2014/12/15ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 14-09
RESOLUTION AUTHORIZING INTERFUND LOAN
WHEREAS, the Economic Development Authority has created various special purpose
funds; and
WHEREAS, interfund loans may be authorized to other funds as necessary;
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the St.
Louis Park Economic Development Authority:
1. The following interfund loan is approved from the Development Fund as needed:
Loan From
Loan To
I Maximum Loan
1'19,evelopment Fund
I Housing Rehabilitation Fund
1 $ 500,000
Such loan is to be repaid with 4% interest when sufficient resources are available.
Administration: Adopted by the Economic Development
Authority December 15, 2014
ector President
Attest