3422RESOLUTION NO.3422
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
SANITATION FUND 490 FROM THE WATER/SEWER FUND 410
RECITALS:
1.The Sanitation Fund 490 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 Sanitation Fund 490.
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 Sanitation Fund 490.
Adopted by the City Council on December 30,2013.
ATTEST: