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t � <br /> • <br /> icioo <br /> RbPt- <br /> ACTiON <br /> OF RDA <br /> RANCHO PALOS VERDES <br /> REPAYMENT OF ADVANCES TO THE REDEVELOPMENT AGENCY FROM <br /> THE CITY - LOAN AGREEMENT BETWEEN THE RDA AND THE CITY - <br /> FY 1991-92 . (ROHLOFF) <br /> ACTION: ( 1) AUTHORIZED THE REPAYMENT OF $819,956 (IN <br /> DOTH PRINCIPAL AND INTEREST) IN LOANS MADE BY THE CITY <br /> OF RANCHO PALOS VERDES TO THE REDEVELOPMENT AGENCY TO <br /> FUND IMPROVEMENTS IN ABALONE COVE. THE ABOVE AMOUNT <br /> WILL BE REPAID FROM COUNTY IMPROVEMENT BOND PROCEEDS. <br /> THE NET BALANCE ON THE LOANS AS A RESULT OF THIS <br /> REPAYMENT SHALL BE $0. (2) AUTHORIZED THE AGENCY <br /> CHAIRMAN AND AGENCY SECRETARY TO EXECUTE THE PROPOSED <br /> LOAN AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY AND THE <br /> CITY OF RANCHO PALOS VERDES TO FUND REDEVELOPMENT AGENCY <br /> ACTIVITIES IN FISCAL YEAR 1991-92 FOR THE PORTUGUESE <br /> BEND RDA FUND. THE PROPOSED LOAN WILL FUND RDA <br /> ACTIVITIES IN THE AMOUNT OF $165, 000 IN FY 1991-92 . <br /> • <br /> i <br /> Date <br /> I r <br /> encu Secy. <br /> Ag . <br />