HomeMy WebLinkAbout2147 OrdinanceChet Bailie, Mayor
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2147
ORDINANCE NO.
AN ORDINANCE relating to an interfund loan between the water/sewer
fund and the general fund for the purpose of financing
preliminary engineering costs on two proposed local
improvement districts.
THE CITY COUNCIL OF THE CITY OF PASCO DOES ORDAIN AS FOLLOWS
Section 1. The City Council finds that it is in the best interest
of the City of Pasco to allow a temporary transfer of funds from the
water/sewer fund to the general fund. This transfer shall be an
interfund loan. The amount of the transfer shall be in such amount as
determined by the finance director as needed for the engineering costs
for the Highland Park Homes Area Water, Sewer and Street L.I.D. and
the Desert Wind Estates Water, Sewer and Street L.I.D., but not to
exceed aOne Hundred Thirty-Five Thousand Dollars ($135,000) transfer.
Such transfer or transfers of monies shall be made as needed for
expenditures.
Any transfer authorized by this ordinance must be made within
six months from the date of the passage of this ordinance. Any monies
transferred from the water/sewer fund as provided for in this ordinance
shall be a loan to the general fund and the general fund shall be
obligated to repay said loan with Interest at the rate of 12 1/4%
per annum from the date of the transfer of the funds. In addition to
the interest, the principal amount transferred from the water/sewer
fund to the general fund as provided for in this ordinance shall be
repaid within twelve months from the date of the passage of this
ordinance.
In the event the above-described local improvement districts
are formed, the obligation of the general fund to repay the amounts
borrowed from the water/sewer fund shall be obligations of the local
improvement districts for their respective engineering costs and said
local Improvement district funds shall repay the water/sewer fund the
amounts owed as provided herein.
Section 2. This ordinance shall be in full force and effect
after its passage and publication as required by law.
PASSED by the City Council of the City of Pasco this 7 day
of April , 1980. 1
APPROVED AS TO FORM:
C
Dennis J. De Velice, City Attorney
Ordinance No 2147
gn Ordinance relating to
Ian in-fund loan between
the water/sewer fund and
.the general fund for the
purpose of financing prelim
inary engineering costs on
two propOSed local improve
Ment districts
The City Council of the
City of PoSco does ordain
as folloWs
Section 1 The City Coun
cil finds that it is in the
best interest of the City of
Pasco to allow a temporary
transfer of funds from the
, water/sewer fund to the
general -fund This transfer
shall brii an mterfund loon
The amount of the transfer
shall be in such amount as
deterroned by the finance
director as needed for the
engineering costs for the
Highland Park Homes Area
Water, Sewer and Street
L I 0 and exceed a One
Hundred Thirty Five Thou
sand Dollars ($135,000)
transfer Such transfer or
transfers of monies shall be
made as needed for
expenditures
Any transfer authorized
by this ordinance must be
' made within six months
from the date of the pos
sage of this ordinance Any
moniesz transferred from the
water/sewer fund as provid
ed for in this ordinance
shall be a loan to the gen
eral fund and the general
fund shall be obligated to
repay said loan with inter
est at the rate of 12 1/4%
Per annum from the date
of the transfer of the funds
IP addition to the interest
the principal amount trans
ferred from the water/sew
er fund to the general fund
as provided for in this orcli
nonce shall be repaid with
in twelve months from the
date of the passage of this
ordinance
In the event the above de
scr tea, local improvement
districts are formed the ob
ligation of the general fund
to repay the amounts bor
rowed from the water /sew
er fund shall be obligations
of the local improvement
istricts for their respective
engineering rusts and said
local improvement district
funds snail rem), trI t- wo
ter/sewer tuna the amount ,
owed as Provider) here ,.
SeCtion I This ordirionCe
Shall be in torte and
effect. after its passage and
pUbliCation was t eauirea by
low
I Passed by thr- City Coon
I cil at the City of POSCO lIii
7 day of April i98(fr
s Chet Bailie
Mayor
Attest
s Evelyn' Wells
City Clerk
Approved as to Form
s Dennis De Felice
City Attorney
Legal No 7714 — April 11
1980
AFFIDAVIT OF PUBLICATION
COUNTY OF Franklin
)ss
STATE OF WASHINGTON
Phyllis Graves , being first duly sworn on oath deposes
and says she is the Principal Clerk of the Tri-City Herald,
a daily newspaper That said newspaper is a legal newspaper and has been approved as a
legal newspaper by order of the superior court in the county in which it is published and
It is novn and has been for more than six months prior to the date of the publication
hereinafter referred to, published in the English language continually as a daily news-
paper in Franklin. County,
Washington, and is now and during all of said time was printed in an office maintained
at the aforesaid place of publication of said newspaper That the annexed is a true
copy of a legal advertisement
Ordinance # 2147
as it was printed in the regular and entire issue of the Tr-City Herald itself and not in a
supplement thereof, for a period of one time xattiviumeksccommencing
on the 1 1th day of April , 19 80 , and
ending on the day of , 19 , and that said newspaper was regularly distributed to its subscribers during all of this period
That the full amount of $ 43.60 has been paid in full, also at the rate of
8 in.@ 5.45 = 43.60
Subscribed and sworn to before me this 1 t h day of April ,19 80
Notary Public in and for the State of Washington, residing at imittemsrigk
April 8, 1980
Tri City Perald
P.O. Box 2608
Pasco. Washington 99302
Gentlemen:
Please publish the attached Ordinances on the following date
April 11, 1980
Please send two (2) Affidavits of Publication for each
Sincerely yours,
Evelyn Wells
City Clerk
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