HomeMy WebLinkAbout1421 Ordinances
ORDINANCE NO. 1421
AN ORDINANCE PROVIDING FOR A TEMPORARY TRANSFER
LOAN FROM THE ARTERIAL STREET FUND TO THE URBAN
RENEWAL FUND OF THE CITY OF PASCO.
WHEREAS, The sum of not more than $145,000 cash is needed in the
Urban Renewal Fund, and
WHEREAS, Sufficient monies are available in the Arterial Street
Fund for a temporary transfer loan, and
WHEREAS, The finance committee of the City of Pasco has recommended
such temporary transfer loan as being in the best interests of the City of
Pasco, Now, THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO DO ORDAIN AS FOLLOWS:
Section 1. The following temporary transfer loan is hereby authorized
to meet the funding requirements of the Urban Renewal Fund.
FROM
Arterial Street Fund
AMOUNT
$145,000
TO
Urban Renewal Fund
Section 2. The loan shall be repaid in ln7n as soon as funds are re-
ceived from the Department of Housing and Urban Renewal to repay the Arterial
Street Fund.
Section 3. No interest shall be charged on this loan.
PASSED by the City Council and APPROVED this 5th day of May, 1970.
G.E. CART , MAYOR
GEORGE STORK, MAYOR PRO -TEM
ATTEST--
RUTH
TTEST- -
Rr UTH MODESKY, ACTING CIYY CLERK
APPROVED AS TO FORM:
D. WAYdE CAMPBELL, CIT .ATT NEY'