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HomeMy WebLinkAbout1752 OrdinanceORDINANCE NO. 1752' AN ORDINANCE PROVIDING FOR TWO TEMPORARY INTER -FUND LOANS FROM THE ARTERIAL STREET FUND IN THE TOTAL AMOUNT OF $7,500; TO THE EQUIPMENT RENTAL FUND IN THE AMOUNT OF $6,000, AND THE.GOLF COURSE OPERATING FUND IN THE AMOUNT OF $1,500; TO PROVIDE FOR THE REPAYMENT THEREOF AND THE SETTING OF AN INTEREST RATE OF 6% PER ANNUM. WHEREAS, said money is available in the Arterial Street Fund, and WHEREAS, said loan is 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. Temporary inter -fund loans are hereby authorized from the Arterial Street Fund to the following funds: a) Equipment Rental Fund $6,000.00 b) Golf Course Operating Fund $1,500.00 Section 2. These loans shall be repaid by the Equipment Rental Fund and the Golf Course Operating Fund prior to December 31, 1976, together with interest at the rate of six (6%) percent per annum. Section 3. This Ordinance shall be in full force and effect after its passage and publication as required by i1aw. PASSED by the City Council and APPROVED this 16 day of December, , 1975. DONALD D. LINTON, MAYOR ATTEST••:-- �EVELYN WELLS, -DEPUTY CITY CLERK .APPROVED AS TO FORM: PATRICK T. ROACH, CITY ATTORNEY