HomeMy WebLinkAbout1435 OrdinanceORDINANCE NO. 1435
AN ORDINANCE PROVIDING FOR A TEMPORARY TRANSFER
LOAN IN THE AMOUNT OF $8,000 FROM THE ARTERIAL
STREET FUND TO THE STREET FUND, PROVIDING FOR
REPAYMENT, AND ASSESSING INTEREST.
WHEREAS, $8,000 is needed in the Street Fund in order to complete
street work in the Urban Renewal Area/Columbia Street, and
WHEREAS, Said money is available in the Arterial Street Fund, and
WHEREAS, The Finance Committee has recommended said 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:
FROM
Arterial Street Fund
AMOUNT
$8,000
TO
Street Fund
Section 2. Said funds shall be used by the Street Fund to complete
street work in the Urban Renewal Area and Columbia Street.
Section 3. This loan shall be repaid by the Street Fund prior to
December 31, 1970, from State Sales Tax Revenue, together with interest at
the rate of 6% per annum.
Section 4. This Ordinance shall be in full force and effect after its
passage a�nc publication as required by law.
PASSED by the City Council this 7th day of July, 1970.
- G
G. . CARTER, MAYOR
ATTEST:
'Ma— to a
HARRYD. KI ZER, C E
APPROVED AS TO FORM:
f _
D. WAYNECAMPBELL,CITY-