HomeMy WebLinkAbout2617 OrdinanceWells, City C erk
bstel o C't
day of July, 1986.
ORDINANCE NO. 2617
AN ORDINANCE authorizing an interfund loan from the
Stadium-Convention Center fund to the Golf Course Redevelopment
fund.
WHEREAS, on June 9, 1986 the City Council approved an
agreement with J-U-B Engineers, Inc. to perform planning and
engineering services for the golf course residential development
and for a fee of $39,000.00, and an appraisal of the golf course
residential area will be required to be performed at an
undetermined cost; and
WHEREAS, the golf course fund is without sufficient
funding to pay for the costs of the planning, engineering and
appraisal services required for the golf course residential
development; and
WHEREAS, the Stadium-Convention Center fund has sufficient
surplus funds for lending and investment,
NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON DO
ORDAIN AS FOLLOWS:
SECTION ONE. An interfund loan from the
Stadium-Convention Center fund to the golf course fund, in an
amount not to exceed $60,000.00, is hereby authorized. The
actual amount of the loan shall be determined by the City
Manager.
SECTION TWO. The loan principle and accumulated interest
will be repaid from the proceeds of the sale of the golf course
residential property. Interest shall accrue at a rate equal to
75% of the average annual prime rate during the life of the loan.
SECTION THREE. This ordinance shall become effective
five days after passage and publication.
PASSED by the City Council and approved by the Mayor this
- ri-T,itg Berald
P0 BOX 2608
PASCO, WASHINGTON 99302-2608
(509) 582-1500
LEGAL ADVERTISING
INVOICE
LEGAL NO 001024
DESCRIPTION ORD I NANC E NO 2617
TIMES O rn LINES 74
DATE 071186
ACCOUNT NO 5 0550
SOLD TO
CAA. of Pasco
P. O. Bo; 2Q3
Pa s c o
Wa
TOTAL $
Q9301
NOTICE This is an Invoice for legal advertising space Please pay from this Invoice as no statement will be rendered
Please detach at perforation and return with payment
- - - -
ORDINANCE NO 2617
2, AN ORDINANCE autho-
rizing an interfund loan
:from the Stadium-Conven-
ollon Center fund to the Golf
,Course Redevelopment
hfund
WHEREAS on June 9
0986 the City Council ap-
proved an agreement with
J-U-p Engineers Inc to
, perform planning and engi-
neering services for the golf
course residential devel-
opment and for a fee of
! 439 0130 00 and an ap-1
I ,praisal of the golf course
!presidential area will be re-
L iquIred to be performed at
losn undetermined cost and
I, WHEREAS the golf
!'-course fund is without suffl-
' sient funding to pay for the
1, costs of the planning engi-
neering and appraisal eery-
Aces required for the golf
p,,course residential devel-
opment and
• WHEREAS The Sta-
'Alum Convention Center
fund has sufficient surplus
funds for lending and in-
vestment,
NOW THEREFORE
THE CITY COUNCIL OF
THE CITY OF PASCO
WASHINGTON DO OR-
DAIN AS FOLLOWS
,----SECTION ONE An inter-
fund loan from the Stadium-
' Convention Center fund to
The golf course fund, in an
iffernount not to exceed
"$60 000 00 is hereby au-
vihorized The actual
mount of the loan shall be
"Irfetermined by the City
','"iVianager
SECTION TWO The
loan principle and accumu-
/gated interest will be repaid
Iti,Jrom the proceeds of the
sale of the golf course resi-
dential property Interest
,shall accrue at a rate equal 16 75% of the average an-
. nual prime rate during the
of the loan
SECTION THREE This
,ordinance shall become ef-
fective five days after pas-
sage and publication
ii.PASSED by the City
Council and approved by
-the Mayor this 7 day of July
▪ -s-Joe W Jackson
k,Mayor
wATTEST
• -s-Evelyn Wells, , *City Clerk
-APPROVED AS TO FORM
•t-s-Greg A Rubstello,
eCity Attorney
'LEGAL NO 001024 -
i."July 11, 1966
AFFIDAVIT OF PUBLICATION
COUNTY OF BENTON
SS
STATE OF WASHINGTON
, being duly sworn,
deposes and says, I am the Legal Clerk of the Tr-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 now and has
been for more than six months prior to the date of the publication
hereinafter referred to, published countinually as a daily newspa-
per in Benton County, Washington That the attached is a true (AD I NAME NO. .2617 copy of a as it
was printed in the regular and entire issue of the Tr-City Herald
itself and not in a supplement thereof, 001 time(s), 8 commencing on n7116 - , and ending on 071186 , and that said newspaper was regulary
distributed to its subscribers during all of this period
1)7 arA
SUBSCRIBED AND SWORN BEFORE ME THIS /3-771
DAY OF J7i
/
Notary public in and for the State of Wash-
ington, residing at Kennewick
COMMISSION EXPIRES <=,2 — 76.
MARY JO HENRY
July 8, 1986
Tri City Herald
P.O. Box 2608
Pasco, Washington 99302
Attn: Rochelle
Dear Rochelle:
Please publish summary of Ordinance No. 2610 on July 13, 1986.
Please send two (2) Affidavits of Publication.
We need Ordinance Nos. 2614, 2615, 2616 and 2617 published on
July 11, 1986. These, too, will need two (2) Affidavits of
Publication for each.
Sincere yours,
Evelyn Wells
City Clerk
ew