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:
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City Clerk
Approved as to Form:
City ttt-rney
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MAYOR
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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