HomeMy WebLinkAbout2990 Resolution RESOLUTION NO. 23 !d
A RESOLUTION AUTHORIZING INTERFUND LOANS FROM THE
GENERAL FUND TO THE CITY STREET FUND, THE ARTERIAL
STREET FUND, THE COMMUNITY DEVELOPMENT BLOCK GRANT
FUND, THE AMBULANCE SERVICE FUND, AND THE SENIOR
CENTER FUND IN THE TOTAL SUM OF $1,505,794.85, AND AN
INTERFUND LOAN FROM THE WATER/SEWER UTILITY FUND TO
THE EQUIPMENT RENTAL OPERATIONS-PROPRIETARY FUND, THE
LID CONSTRUCTION FUND THE ULID 140 FUND, IN THE TOTAL
SUM OF $614,745.71,FOR A GRAND TOTAL OF $2,120,540.56.
WHEREAS,the City Council of the City of Pasco has,pursuant to RCW 35.33.121,
found that it is in the best interest of the City to lend funds from the General Fund to the City
Street Fund,the Arterial Street Fund, the Community Development Block Grant Fund, the
Ambulance Service Fund, and the Senior Center Fund, and to provide for the repayment thereof,
and
WHEREAS, the City Council of the City of Pasco has found it to be in the best interest
of the City to lend funds from the Water/Sewer Utility Fund to the Equipment Rental Operations
&Maintenance-Proprietary Fund, the LID Construction Fund, and the ULID 140 Fund, and to
provide for the repayment thereof,
NOW,THEREFORE,
THE CITY OF PASCO,WASHINGTON HEREBY RESOLVES AS FOLLOWS:
1. Authorization for loan. The Finance Manager of the City of Pasco is hereby
authorized and directed to make the following loans from the City of Pasco General
Fund:
(A)To the City Street Fund in the sum of$11,542.06;
(B)To the Arterial Street Fund in the sum of$979,464.81;
(C)To the Community Development Block Grant Fund in the sum of
$122,960.06;
(D)To the Ambulance Service Fund in the sum of$389,960.06;
(E)To the Senior Center Fund in the sum of$1,881.74;
The Finance Manager of the City of Pasco is also hereby authorized and directed to
make the following loans from the Water/Sewer Utility Fund:
(F) To the Equipment Rental Operations and Maintenance-Proprietary Fund in the
sum of$109,612.14;
(G)To the LID Construction Fund in the sum of$501,487.63;
(H)To the ULID 140 Fund in the sum of$3,645.94.
2. Terms and Memorialization. The effective dates of the loans shall be December 31,
2005 and shall be due and payable 1 day thereafter. Such loans shall bear no interest.
This resolution shall constitute memorialization of these loan and their terms.
PASSED by the City Council of the City of Pasco, Washington, this 6th day of November 2006.
SIGNED in authentication of its passage this 6th day of November 6, 2006.
JoJ O n, Mayor
ATT T APPRO D A TO FORM:
Debra L Clark, City C erk Leland B. Kerr, City Attorney