HomeMy WebLinkAbout0462 ResolutionRESOLUTION NO. 411-- -7-
WHEREAS the City Council of the City of Pasco is desirous of borrowing
the sum of $17, 402. 60 from the Permanent Street Construction and Storm
Sewer Construction Fund to purchase a grader for the Street Department,
and
WHEREAS the Finance Committee of the City of Pasco has recommended
that said sum be borrowed from the Permanent Street Construction and Storm
Sewer Construction Fund and transferred into the Street Department Fund to
be repaid over a period of three years without interest, and
WHEREAS the City Council .of the City of Pasco: accepts and approves
the recommendations of the Finance Committee as being to the best interests
of the City of Pasco, NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO DO RESOLVE AS FOLLOWS:
Section 1. The sum of $17, 402. 6-0 shall be transferred from the Permanent
Street Construction and Storm Sewer Construction Fund to the Street Department
Fund to purchase a grader for the Street Department.
Section 2. The aforesaid loan will be repaid from the Street Department
Fund to the Permanent Street. Construction and Storm Sewer Construction Fund
over a period of three years as follows:
1961 $5,800.86
1962 5,800.87
1963 5, 800. 87
Total $17,402.60
Section 3. The annual payment on the loan shall be made on or before
July 1 of each year or at such other time as may be determined by the Finance
Committee of the City of Pasco.
PASSED by the City Council and APPROVED by the Mayor this P-hd)day of
June, 1960.
ATTEST:
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City Clerk
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AP OVED f f T0' F RM:
ity orney
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` MAYOR