2383_00001RESOLUTION NO.2383
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THEBUILDINGMAINTENANCEFUND528FROMTHEWATER/SEWERCONSTRUCTIONFUND477
RECITALS:
1.The Building Maintenance Fund willreceive long term financing at a later date,
2.The present cash balance is not sufficient to meet the present needs of the fund.
RESOLVED:
1.The Water/SewerConstructionFund 477 shall loan $800,000tothe Building Maintenance Fund 528withinterestat3.25%per annum.
2.The loan shallbe repaidto the Water/Sewer ConstructionFund 477 as soon as long term financingisarranged.
Adopted bytheCityCouncil on November 13,2001.
ayor
A
Finance Director
O
O