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RESOLUTION NO.2291
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
STREET IMPROVEMENT FUND #309 FROM THE SANITATION FUND
490
RECITALS:
1.The Street ImprovementFund will receive Transportation Improvement Board (TIB)grantproceeds
at a later date.
2.The present cash balance is not sufficient to meet the expenses of this fund.
RESOLVED:
1.The Sanitation Fund 490 shall loan $750,000 to the Street Improvement Fund #309 with interest at
5.5%per annum.
2. The loaned funds shallbe used to pay bills from the Street Improvement Fund #309.
3. The loan shall be repaid tothe Sanitation Fund #490 from TIB grant proceedswhen receivedbythe
Street Improvement Fund #309.
Adopted by the City Council on September 12,2000.
Mayor
ATTEST:
Finance Director