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HomeMy WebLinkAbout0587 ResolutionRESOLUTION NO 5.87 A RESOLUTION PROVIDING FOR A TEMPORARY TRANSFER LOAN FROM THE WATER DEPARTMENT FUND OF THE 1964 BUDGET OF THE CITY OF PASCO TO BE USED BY THE LIBRARY BOARD FOR CURRENT OPER- ATING EXPENSES FOR THE CITY LIBRARY.' WHEREAS, the City Council of the City of Pasco is desirous of borrowing the sum of $6, 000. 00 from the Water Department Fund to be used by the Library Board for current operating expenses for the City Library, and WHEREAS, the necessary funds are available in the Water Department Fund, and WHEREAS, the Finance Committee of the City of Pasco has recommended this temporary transfer loan as being in the best interests of the City of Pasco and to be repaid as soon as the Library Department's tax money is received, NOW,` THEREFORE', THE CITY COUNCIL OF THE CITY OF PASCO DO RESOLVE AS FOLLOWS: Section 1. The sum of $6, 000. 00 shall be transferred from the Water Department Fund to the Library Department as a temporary transfer loan to be used by the Library Board for current operating expenses. Section 2. The aforesaid loan will bear interest at the rate of 47o per annum from the date of the transfer. Section 3. The aforesaid loan will be repaid as follows: The principal shall be paid in full on or before September 1, 1964. The interest shall be budgeted and repaid during the year 1965. Section 4. The Finance Committee of the City of Pasco shall determine the time at which the principal and interest shall be repaid. Section 5. This resolution shall be in full force and effect after its passage as required by law. PASSED by the City Council and APPROVED by the Mayor this 17th day of March, 1964. Attest: tet. zz City Clerk Approved as to Form: City ttt-rney ))�_ 21,� ✓L MAYOR 1 F1 PROCLAMATION TO ALL TO WHOM THESE PRESENTS MAY COME, GREETINGS: WHEREAS, the City Council of the City of Pasco, Washington, has by Resolution duly enacted and passed the 17th day of March, 1964, initiated the procedure for the reorganization of the form of government of the City of Pasco to the Council -Manager plan subject to the approval of the voters of the City of Pasco, and WHEREAS, the question of reorganization must be submitted to the voters of the City of Pasco at a special election, NOW, THEREFORE, I, T. R. vanHoy, Mayor of the City of Pasco, State of Washington, do hereby proclaim the 5th day of May, 1964, as. the date of said election. IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the City of Pasco, Washington to be affixed this 17th day of March, 1964. Atte s t: CLERK, City of Pasco MA -"OR, "City of Pasco