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HomeMy WebLinkAbout1816 OrdinanceORDINANCE NO. 1816 AN ORDINANCE PROVIDING FOR A TEMPORARY INTERFUND LOAN FROM THE GENERAL FUND TO THE.FIRE EQUIPMENT AND -.CON- STRUCTION FUND OF UP TO $40,000; PROVIDING FOR THE REPAYMENT THEREOF, AND SETTING OF AN INTEREST RATE OF 5 1/4% PER ANNUM. WHEREAS, Said money is available in the General 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. A temporary interfund loan is hereby authorized from the General Fund to the Fire Equipment and Construction Fund in the amount of up to $40,000. Section 2. This loan shall be repaid from proceeds of the 1977 special levy tax collection prior to July 1, 1977, together with interest at the rate of 5 1/4% 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 and APPROVED this 21 day of September 1976. 7 JA TIDRICK, MAYOR AT,TE'ST :~ �EVELYN WELLS•,;'DEPUTY CITY CLERK APPROVED AS TO FORM: v PATRIRK T:�RO C , CITY ATTORNEY