HomeMy WebLinkAbout3523 ResolutionRESOLUTION NO. 3 �Z 3
A RESOLUTION AUTHORIZING INTERFUND LOANS FROM THE
GENERAL FUND TO OTHER FUNDS.
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 Community
Development Grant Fund, the Golf Course Fund and the General Construction fund and to provide
for the repayment thereof, and
NOW, THEREFORE, THE CITY OF PASCO, WASHINGTON HEREBY
RESOLVES AS FOLLOWS:
1. Authorization for loans. The Financial Services Manager of the City of Pasco is
hereby authorized and directed to make the following loans from the City of Pasco
funds as follows:
(A) From the General fund to the Community Development Grant fund in the amount
of $320,000 to ensure positive fund balance as of 12/31/13.
(B) From the General fund to the Golf Course fund in the amount of $50,000 to
provide positive fund balance as of 12/31/13.
(C) From the General fund to the General Construction fund in the amount of
$1,500,000 to provide positive fund balance as of 12/31/13.
2. Terms and Memorialization. The effective dates of the loans shall be as listed below.
This resolution shall constitute memorialization of these loans and their terms.
(A) Disbursement is authorized as of 12/31/13 and repayment is due as of 1/1/2014.
The interest rate is zero percent (0 %).
(B) Disbursement is authorized as of 12/31/13 and repayment is due as of 1/1/2014.
The interest rate is zero percent (0 %).
(C) Disbursement is authorized as of 12/31/13; the interest rate set at 0% with a due
date of 1/1/2014.
PASSED by the City Council of the City of Pasco, Washington, this 16th day of December 2013.
SIGNED in authentication of its passage this 16th day of December, 2013.
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Matt VAatkins, Mayo
T S APPR"V2 AS TO FORM: X, '� (
ebra Clark, City Clerk Leland B. Kerr, City Attorney