HomeMy WebLinkAbout2779 OrdinanceWELLS, City Clerk GREG A. UBST LLO, City Attorney
,.
,
ORDINANCE NO.
AN ORDINANCE authorizing an interfund loan for financing
Phase I street and utility improvements at The Village
at Sun Willows Residential Development.
THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. An interfund loan to the Sun Willows
Development Fund of an amount not exceeding $550,000 is hereby
authorized from the Equipment Rental Reserve Fund (sixty percent
of amount borrowed) and the Stadium/Convention Center Fund (forty
percent of amount borrowed) for the purpose of financing the
Phase I street and utility improvements at The Village at Sun
Willows Residential Development.
Section 2. The term of the loan shall be for a period
of seven years and have an interest rate of eight percent per
annum.
- Section 3. This Ordinance shall take effect five (5)
days after passage and publication.
PASSED by the City Council and APPROVED by the Mayor this
21st day of May, 1990.
J E JACKS N Mayor
//
ATT APPROVED AS TO FORM:
1
May 22, 1990
Tri City Herald
P.O. Box 2608
Pasco, Washington 99302
Gentlemen:
Please publish Ordinance Nos. 2777, 2778 and 2779 on the
following date:
May 25, 1990
Please send two (2) Affidavits of Publication for each.
Sincerely,
Evelyn Wells
City Clerk
ew