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HomeMy WebLinkAbout1563 OrdinanceORDINANCE NO. 1563 AN ORDINANCE PRO"VIDING FOR TEMPORARY TRANSFER LOANS IN THE AMOUNT OF $42,000.00 FROM ARTERIAL STREET FUND; TO THE CITY STREET FUND IN THE AMOUNT OF $14,000.00; TO THE E.E.A. PROGRAM FUND IN THE AMOUNT OF $8,500.00; TO THE CEMETERY FUND IN THE AMOUNT OF $1,500.00; TO THE PARKS AND RECREATION FUND IN THE AMOUNT OF $8,000.00; TO THE CAPITAL PROJECT RD. 32 FUND IN THE AMOUNT OF $4,000.00; TO THE ENTER- PRISE GOLF FUND IN THE AMOUNT OF $4,000.00; TO THE INTRA -SERVICE FINANCE FUND IN THE AMOUNT OF $2,000.00; ALSO, TO PROVIDE FOR REPAY- MENT AND THE ASSESSMENT OF INTEREST. WHEREAS, said money is available in the Arterial Street Fund, and WHEREAS, said recommended loans are in the best interest 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 loans are hereby authorized: FROM: Arterial Street Fund $42,000.00 Total: $42,000.00 TO: City Street Fund $14,000.00 E.E.A. Program Fund 8,500.00 Cemetery Fund 1,500.00 Parks & Recreation Fund 8,000.00 Capital Project - Rd. 32 Fund 4,000.00 Enterprise Golf Fund 4,000.00 Intra -Service Finance Fund 2,000.00 Total: $42,000.00 Section 2. These loans shall be repaid by the various funds to the Arterial Street Fund prior to December 31, 1973, together with interest at the rate of 5% per annum. Section 3. This Ordinance shall be in full force and effect after its passage and publication as required by law. PASSED by the City Council this 19 day of December, 1972. DONALD D. LINTON, MAYOR APPROVED AS TO FORM: D. WAYNE CAMPBELL, CITY ATTORNEY