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HomeMy WebLinkAbout0764 Resolution• RESOLUTION NO.� A RESOLUTION PROVIDING FOR A TEMPORARY TRANSFER LOAN FROM THE WATER/SEWER FUND TO THE URBAN RENEWAL FUND -OF THE CITY OF PASCO. WHEREAS, Federal Funds have not been received in order to continue the execution of the.Urban Renewal Project, Washington R -lei, and WHEREAS, The sum of not more than $10,000 cash is needed,now,.and sufficient monies are available in the Water/Sewer Fund for a temporary transfer loan, and WHEREAS, The Finance Committee of the City of Pasco has recommended such 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 following temporary transfer loan is hereby authorized to meet the fiu�ncd-ing requirements of the Urban Renewal Fund. FROM AMOUNT TO • Mater/Sewer Fund $10,000 Urban Renewal Fund Ni Section 2. The loan shall bear interest at the rate of 6% per annum. Section 3. The loan shall be repaid in 1969 as soon as funds are received from tie Federal Government to repay the Water/Sewer Fund.' PASSED by the City Council and APPROVED as provided by law this 7th day of January,.1969. ULUI,I]L U LnJ n ., + •• AMID EX- FICIO CITY CLERK APPROVED AS TO FORM: MIN ; POST OFFICE BOX 293 I TELEPHONE (509) 547-8801 1 PASCO, WASHINGTON 99301 January 7, 1969 The Honorable Mayor & City Council City Hall Pasco, Washington Gentlemen: The Finance Committee of the City of Pasco recommends the following temporary transfer loan as being in the best interest of the City of Pasco. FROM: AMOUNT: TO: • Water/Sewer Fund $10,000 Urban Renewal Fund GDE:ew 1/7/69 0