2389_00001RESOLUTION NO.2389
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THEPARKSANDRECREATIONIMPROVEMENTFUND314FROMTHESANITATIONFUND490
RECITALS:
1.The Parks and Recreation Improvement Fund willreceive grantfinancing at a later date.
2 The present cash balance isnotsufficienttomeet thepresent needs ofthefund.
RESOLVED:
1.The SanitationFund 490 shallloan $60,000 totheParks and Recreation Fund314 with interest at3.25%per annum.
2.The loan shall be repaidtothe SanitationFund 490 as soon as grant financing is arranged.
Adopted by the CityCouncil on November 27,2001.
Mayor
A
Finance Director
O
O