HomeMy WebLinkAbout0534 Resolutioni
RESOLUTION NO. 534
A RESOLUTION. PROVIDING FOR A TEMPORARY TRANSFER LOAN FROM THE
WATER DEPARTMENT FUND TO THE LIBRARY FUND OF THE CITY OF PASCO.`
Whereas sufficient taxes have not been received to meet the budget
expenses for the Library Department for the first part of the.1963 year, and
Whereas the additional sum of $3, 000. 00 cash is needed. now, and
sufficient monies are available in the Water Department Fu nd for a temporary
transfer loan, and
r
Whereas the Finance Committee of the City of Pasco has recommended
said.temporary transfer loan as being in 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 $3, 000, 00 shall be transfern:ed from the Water
Department Fund -to'the Library Fund as a temporary transfer loan to meet 1963
budgeted appropriations for the Library Department,
Section, 2. The loan shall bear interest, at the rate of 47o per annum.
Section 3. The loan shall be repaid in 1963 as soon as sufficient tax
molmes are received by the City Treasurer for the Library Fund to repay the Water
Department Fund.
PASSED by the City Council. and APPROVED by.the Mayor this 19th
day of February, 1963.
Atte st:
City -Clerk .' • ,
Approve'd.as.to form:ok
;,ity. Attorney
-`M A.,Y O R