2986Adopted by the City Council on July 22, 2008.
•ATTEST:
Ronald C. Covey, Mayor
•RESOLUTION NO. 2986
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
BUILDING MAINTENANCE FUND 528 FROM THE WATER/SEWER
FUND 410
RECITALS:
1.The Building Maintenance Fund will receive capital financing and rental revenues at a later date.
2.The present cash balance is not sufficient to meet the present and projected needs of the fund.
RESOLVED:
1.The Water/Sewer Fund 410 shall loan $500,000 to the Building Maintenance Fund 528.
2.The loan shall bear interest at 2.5% per annum on the unpaid principal.
3.The loan shall be repaid to the Water/Sewer Fund 410 when the capital financing and rental
revenues are received.
Ronald R. Cone, Finance Director
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