3105RESOLUTION NO.3105
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
BUILDING MAINTENANCE FUND 528 FROM THE SANITATION FUND
490
RECITALS:
1.The Building Maintenance Fund 528 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 Sanitation Fund 490 shall loan S350,000 to the Building Maintenance Fund 528.
2.The loan shall bear interest at 1%per annum on the unpaid principal.
3.The loan shall be repaid to the Sanitation Fund 490 when the capital financing and rental revenues
are received.
Adopted by the City Council on November 24,2009.
Ronald C.Covey,Mayor
ATTEST:
Ronald R.Cone,Finance Director