3255<J
\y
RECITALS:
RESOLUTION NO.3255
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
BUILDING MAINTENANCE FUND528 FROM THEWATER/SEWER FUND
410
1. The Building Maintenance Fund 528 will receive General Fund revenues at a later date.
2. The present cash balance is not sufficient to meet the needs of the fund.
RESOLVED:
1.The Water/Sewer Fund 410 shall loan $1,500,000 to the Building Maintenance Fund 528.
2.The loan shall bear interest at 2%per annum on the unpaid principal.
3. The loan shall be repaid to the Water/Sewer Fund 410 when the General Fund revenues are
received.
Adopted by the City Council on October 25,2011.
ATTEST:
Cone,'Finance Director