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HomeMy WebLinkAbout2286 ResolutionCharles Kilbury Mayor RESOLUTION NO. ,P(.0 A RESOLUTION authonzmg inter fund loans from the General Fund to the TRAC Development and Operating Fund m the sum of $320,600 dollars and to the Medical/Dental Insurance Fund m the sum of $100,000 dollars WHEREAS, the City Council of the City of Pasco has, pursuant to RCW 35 33 121, found that it is m the best mterest of the City to lend funds from the General Fund to the TRAC Development and Operating Fund and the Medical/Dental Insurance Fund and to provide for the repayment thereof, NOW, THEREFORE, THE CITY OF PASCO, WASHINGTON HEREBY RESOLVES AS FOLLOWS: 1. Authorization for loan. The Fmance/Director of the City of Pasco is hereby authonzed and directed to make the followmg loans from the City of Pasco General Fund (A) To the TRAC Development and Operating Fund m the sum of $320,600 dollars, (B) To the Medical/Dental Insurance Fund in the sum of $100,000 dollars 2. Terms and Memorialization. The effective date of the loan shall be December 16, 1996 and such loan shall be due and payable 36 months thereafter Such loans shall bear no interest and my be extended for such additional 1 year terms as may be deemed necessary for the repayment of such loan This resolution shall constitute memonalization of this loan and its terms PASSED by the City Council of the City of Pasco, Washington, this 16th day of December, 1996 SIGNED m authentication of its passage this 16th day of December, 1996 ATTEST: Catherme Seaman Deputy City Clerk APPROVED AS TO FORM: Leland B Kerr City Attorney