CRA 88-09-12 MINUTES OF A MEETING OF THE
CYPRESS REDEVELOPMENT AGENCY
HELD
September 12, 1988
Agency Chairman Arnold called the meeting of the Cypress Redevelopment Agency
to order at 12:03 a.m. on Monday, September 12, 1988 in the Cypress City
Council Chambers, 5275 Orange Avenue, Cypress, California.
PRESENT:Agency Members Coronado, Davis, Kanel & Arnold
ABSENT:Agency Member Mullen
MINUTES: It wasmoved by Agency Member Kanel and seconded by Agency Member
Davis to approve the minutes of the July 25, 1988 meeting. The motion
unanimously carried by the following roll call vote:
AYES:4 AGENCY MEMBERS: Coronado, Davis, Kanel & Arnold
NOES:0 AGENCY MEMBERS: None
ABSENT: I AGENCY MEMBERS: Mullen
CONTINUATION OF CONSIDERATION OF RENEWAL OF A REPAYMENT AGREEMENT AND THE
PURCHASE MONEY PROMISSORY NOTE WITH THE CITY: The staff reports dated August
15 and September 6, 1988 indicated that earlier in the meeting the City
Council considered the renewal of the Repayment Agreement and the Purchase
Money Promissory Note in the amount of $1,237,662.
It was moved by Agency Member Davis and seconded by Agency Member Kanel that
the Cypress Redevelopment Agency authorize the Executive Director to approve
the extension of the Repayment Agreement and the renewal of the Purchase Money
Promissory Note. The motion unanimously carried by the following roll call
vote:
AYES:4 AGENCY MEMBERS: Coronado, Davis, Kanel & Arnold
NOES:0 AGENCY MEMBERS: None
ABSENT:I AGENCY MEMBERS: Mullen
ADJOURNMENT: Agency Chairman Arnold adjourned the meetin a.m.
OJ
CHAIRMAN OF THE CYPRESS
REDEVELOPMENT AGENCY
ATTEST:
S E C R E/r.0 t -C(F' !'qE 'C Y P R E
REDEVELOPMENT AGENCY