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,
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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