HomeMy WebLinkAbout0710 Resolution[1
RESOLUTION NO. 710
A RESOLUTION PROVIDING FOR A TEMPORARY TRANS-
FER 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 year 1967, and
WHEREAS, the additional sum of $8,000.00 cash is needed now, and
sufficient monies are available in the Water Department Fund for a temporary
transfer loan, and
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 $8 , 000.00 shall be transferred from the Water De-
partment Fund to the Library Fund as a temporary transfer loan to meet 1967
budgeted appropriations for the Library Department.
Section 2. The loan shall bear interest at the rate of 5 % per annum.
Section 3. The loan shall be repaid in 1967 as soon as sufficient tax
monies are received by the City Treasurer for the Library Fund to repay the Water
Department Fund.
PASSED by the City Council and APPROVED as provided by law this 4th
day of April , 1967.
ATTEST:
Ruth Modesky, City Clerl�
Approved as to form-
D.
orm:
D. Wayne Campbell, ity Attorney
G. E. CARTER, MAYOR