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HomeMy WebLinkAbout0766 ResolutionRESOLUTION N0. 766 A RESOLUTION PROVIDING FOR A TEMPORARY TRANSFER LOAN FROM THE.ARTERIAL STREET FUND TO THE CURRENT EXPENSE FUND AND THE G.O.B. ARTERIAL STREET FUND OF THE CITY OF PASCO. WHEREAS, The sum of not more than $50,000 cash is needed in the Current Expense Fund and not.more than $45,000 cash is needed in the G.O.B. Arterial Street Fund, and WHEREAS, Sufficient monies are available in the Arterial Street 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 loans are hereby authorized to . meet a unding requirements of the Current Expense Fund and G.O.B. Arterial Street Fund. FROM AMOUNT TO Arterial Street Fund 50,000 Arterial Street Fund, 459000 Current Expense Fund G.O.B. Arterial Street Fund 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 e Current Expense Fund and G.O.B. Arterial Street Fund to repay the Arterial Street Fund. 1969. ATTES PASSED by the City Council and APPROVED THIS 21st day of January, UL.V1\61L Y. Lv.11.1l11\, Yat.L W l VI\ VI' rlV 1-Ia IIaV 1l�rll ay.• ru..r cv_nrrrrTn rTTv riGak POST OFFICE BOX 293 1 TELEPHONE (509) 547-8801 1 PASCO, WASHINGTON 99301 January 17, 1969 Honorable Mayor & City Council City Hall Pasco, Washington Gentlemen: The Finance Committee of the City of Pasco hereby recommends the following temporary transfer loans be made in the best 'interests of the City of Pasco. FROM AMOUNT TO Arterial Street Fund Arterial Street Fund 50,000 Current Expense Fund 45-,000 G.O.B. Arterial Street Fund