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RESOLUTION NO.2223
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
CAPITAL FUND 308 FROM THE WATER/SEWER CONSTRUCTION
FUND 477.
RECITALS:
1.The Capital Fund will receive funds at a later date.
2. The present cash balance is not sufficientto meet the present and projected needs of the fund.
RESOLVED:
1.The Water/Sewer Construction Fund 477 shall loan $75,000 to the Capital Fund 308 with interest at
5.25%per annum.
2.The loan shallbe repaidto the Water/Sewer Construction Fund477 perthe following schedule:
Date Principal Balance
91/99
9/1/2000
9/1/2001
9/1/2002
$25,000
$25,000
$25,000
Adopted by the City Council on December 14,1999.
Mayor
ATTEST:
Hnance Director
$75,000
$50,000
$25,000
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