3579RESOLUTION NO.3579
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
AMBULANCE FUND 498 FROM THE WATER/SEWER FUND 410
RECITALS:
1.The Ambulance Fund 498 will receive service fee revenues at a later date.
2.The present cash balance is not sufficient to meet the present and projected needs of the fund.
RESOLVED:
1.The Water/Sewer Fund 410 shall loan $100,000 to the Ambulsnee Fund 498 with nterest at 1%.
2.The loan s hall be repaid to the Water/Sewer Fund 410 per the following schedule:
Date Payment Interest Principal Balance
100,000.00
12/22/16 34,002.21 1,000.00 33,002.21 66,997.79
12/22/17 34,002.21 669.98 33,332.23 33,665.56
12/22/18 34,002.22 336.66 33,665.56 -0-
Total 102,006.64 2,006.64 100,000.00
Adopted by the City Council on December 22,2015.
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Dick Deane Mayor
ATTEST: