HomeMy WebLinkAbout10-27 - ADMIN Resolution - Economic Development Authority - 2010/12/20ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 10-27
RESOLUTION AUTHORIZING INTERFUND LOANS
WHEREAS, the Economic Development Authority 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 St. Louis Park Economic
Development Authority:
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
2. Such loans are to be repaid with 4% interest when sufficient resources are available.
Attest:
Secretary Y
Adopted by the Economic Development Authority
December 20, 2010
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President