0016RESOLUTION NO. 16
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROLLING HILLS, CALIFORNIA, AUTHORIZING THE BORROW-
ING OF $2,000.00 FROM THE ROLLING HILLS COMMUNITY
ASSOCIATION OF RANCHO PALOS VERDES, WITHOUT INTEREST,
FOR A TERM ENDING JULY 109 1957•
'MREAS, The City Council of the City of Rolling Hills
is advised that it will receive no:funds until distribution
of "in lieu"money by the State Controller on or about
June 10, 1957; and
WHEREAS, certain necessary expenditures must be made
prior to June 10, 1957; and
WHEREAS, the Rolling Hills Community Assiciation of
Rancho Palos Verdes has offered to lend to the City of
Rolling Hills, without interest, the sum $2,000.0.0 payable
on or before July 10, 1957;
NOW, THEREFORE, BE IT RESOLVED that the City°.Council of
the City of Rolling Hills does hereby accept said offer of
the Rolling Hills Community Association of Rancho Palos
Verdes and further that the Mayor and the City Clerk of
the City of Rolling Hills, be and they are hereby authorized,
empowered and directed, upon receipt from the Rolling Hills
Community Associatioh of Rancho Palos Verdes of the Sum of
$2,000.00, to execute and deliver to said Association a
promissory note in form approved by the City Attorney where-
by this City -promises to pay to said Association, on or
before July 10, 1957, the sum of $2,000.00, without interest.
THAT the Mayor shall sign this resolution and'the City
Clerk shall attest and certify to the passage and adoption
thereof.
PASSED, APPROVED, AND ADOPTED THIS 24th day of
January, 1957. ,
Mayor of the City of Rolling Hills
ATTEST:
C tyC er - -_
de
APPROVED AS TO FORM:
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City,Attorney