HomeMy WebLinkAbout0772 ResolutionRESOLUTION NO. 772
A RESOLUTION PROVIDING FOR A TEMPORARY TRANSFER LOAN FROM THE
ARTERIAL STREET FUND TO THE URBAN RENEWAL FUND OF THE CITY OF
PASCO.
WHEREAS, The sum of not more than $5,000.00 cash is needed in the Urban
Renewal Fund, and
WHEREAS, Sufficient monies are available in the Arterial Street Fund for
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 ORDAIN AS FOLLOWS:
Section 1. The following temporary transfer loan is hereby authorized to
meet the funding requirements of the Urban Renewal*'Fund:.
FROM AMOUNT TO
Arterial Street Fund $5,000.00 Urban Renewal 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 asJunds are received
from the Urban Renewal Fund Investments to repay the"Arterial Street Fund.
PASSED by the City Council and APPROVED this 15 day of April, 1969.
G.E. CARTER, MAYOR +
ATTES
G ORGE�D. ST N, DIR CT0 OF ADMINISTRATION AND
EX -OFFICIO ITY CLERK
APPROVED AS TO FORM:
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