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RESOLUTION NO.2114
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
PARKS AND RECREATION IMPROVEMENT FUND 314 FROM THE
WATER/SEWER CONSTRUCTION FUND 477.
RECITALS:
1.The Parks and Recreation Improvement Fund will receive funds 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 Construction Fund 477 shall loan $120,000 to the Parks and Recreation
Improvement Fund 314.
2. The loan shall be repaid to the Water/Sewer Construction Fund477 per the following schedule:
Principal Balance
1/1/1998
9/1/1998
9/1/1999
9/1/2000
9/1/2001
9/1/2002
Adopted by the City Council on May 26,1998
Finance Director
$20,000
$25,000
$25,000
$25,000
$25,000
Mayor
$120,000
$100,000
$75,000
$50,000
$25,000
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