3488RECITALS:
RESOLUTION NO.3488
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
SANITATION FUND 490 FROM THE WATER/SEWER FUND 410
1.The Sanitation Fund 490 will receive service fee revenues at a later date.
2. The present cash balance is notsufficientto 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 23,2014.
55Utf/f g^g^g;
Dick Dean,Mayor
W. Robert Taylor,Fi/farice Director