3012I
Adopted by the City Council on October 14, 2008.
Ronald C. Covey, Mal
RESOLUTION NO. 3012 •A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
BUILDING MAINTENANCE FUND 528 FROM THE WATER/SEWER
FUND 410
RECITALS:
1.The Building Maintenance Fund will receive capital financing and rental 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 $500,000 to the Building Maintenance Fund 528.
2.The loan shall bear interest at 2.5% per annum on the unpaid principal.
3.The loan shall be repaid to the Water/Sewer Fund 410 when the capital financing and rental
revenues are received.
ATTEST: •
nald R. Cone, Finance Director
•