HomeMy WebLinkAbout3002 Resolution RESOLUTION NO. 306 2i
A RESOLUTION AUTHORIZING INTERFUND LOANS FROM THE
GENERAL FUND TO THE ARTERIAL STREET FUND, THE
COMMUNITY DEVELOPMENT BLOCK GRANT FUND, THE
AMBULANCE SERVICE FUND, AND THE EQUIPMENT RENTAL-
OPERATIONS &MAINTENANCE-GOVERNMENT TYPE FUND IN THE
TOTAL SUM OF$1,505,000, AND AN INTERFUND LOAN FROM THE
WATER/SEWER UTILITY FUND TO THE EQUIPMENT RENTAL
OPERATIONS &MAINTENANCE-PROPRIETARY TYPE FUND AND
TO THE LOCAL IMPROVEMENT DISTRICT CONSTRUCTION FUND
FOR A TOTAL SUM OF $1,020,000 , FOR A GRAND TOTAL OF
$2,525,000.
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 Arterial
Street Fund, the Community Development Block Grant Fund, the Ambulance Service Fund, and
the Equipment Rental Operation&Maintenance-Government Type 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, and the Local Improvement District Construction 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 Arterial Street Fund in the sum of$800,000;
(B)To the Community Development Block Grant Fund in the sum of$120,000;
(C)To the Ambulance Service Fund in the sum of$500,000;
(D)To the Equipment Rental-Operations &Maintenance-Governmental Type
Fund in the sum of$85,000;
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:
(E)To the Equipment Rental Operations and Maintenance-Proprietary Type Fund
in the sum of$30,000;
(F) To the Local Improvement District Construction Fund in the sum of$990,000;
2. Terms and Memorialization. The effective dates of the loans shall be December 31,
2006 and shall be due and payable on January 1, 2007, 1 day later. 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 18th day of December 2006.
SIGNED in authentication of its passage this 18th day of December 18, 2006.
Joy Ol , Mayor
ATTEST APPROV TO FORM:
o 0
Debra Clark, City Clerk Leland B. Kerr, City Attorney