2303_00001RESOLUTIONNO.2303
A RESOLUTION AUTHORIZINGAN INTER-FUND LOAN TO THESTREETIMPROVEMENTFUND#309 FROM THESANITATIONFUND#490
RECITALS:
1.The Street Improvement Fund willreceiveTransportation Improvement Board (TIB)grant proceedsatalaterdate.
2.The present cash balance is not sufficienttomeet theexpenses of thisfund.
RESOLVED:
1.The Sanitation Fund 490 shallloan $300,000totheStreet Improvement Fund #309 with interest at5.5%per annum.
2.The loaned funds shall be used to pay bills from theStreet Improvement Fund #309.
3.The loan shall be repaid tothe Sanitation Fund #490 from TIBgrant proceeds when receivedby theStreetImprovementFund#309.
Adopted by theCity Councilon December 12,2000.
ayor
Finance Director
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