HomeMy WebLinkAbout3056 Resolution RESOLUTION NO. 3 a,S
A RESOLUTION AUTHORIZING INTERFUND LOANS FROM THE
GENERAL FUND TO THE ARTERIAL STREET FUND, THE
COMMUNITY DEVELOPMENT BLOCK GRANT FUND AND THE
AMBULANCE SERVICE FUND IN THE TOTAL SUM OF S1,485,000,
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, and the Ambulance Service Fund,
and to provide for the repayment thereof, and
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$1,000,000;
(B)To the Community Development Block Grant Fund in the sum of$275,000;
(C)To the Ambulance Service Fund in the sum of$210,000;
2. Terms and Memorialization. The effective dates of the loans shall be December 31,
2007 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 loans and
their terms.
PASSED by the City Council of the City of Pasco, Washington, this 17th day of December 2007.
SIGNED in authentication of its passage this 17th day of December, 2007.
Joyce so Mayor
ATTEST 0.0 APP AS TO FORM:
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Debra Clairk, ity Clerk Leland B. Kerr, City Attorney