3198RESOLUTION NO.3198
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 5200,000 to the Ambulance Fund 498.
2.The loan shall bear interest at 1%per annum on the unpaid principal.
3.The loan shall be repaid to the Water/Sewer Fund 410 when the service fee revenues are received
to substantially fund the Ambulance Fund 498.
Adopted by the City Council on December 14,2010.
Jon Lane^Mayor
Ronald R.Cone,Finance Director