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