2723_00001RESOLUTION NO.2723
ARESOLUTION AUTHORIZINGAN INTER-FUNDLOANTO THE PATHSANDTRAILSFUND114FROMTHESANITATIONFUND490
RECITALS:
1.The Paths and Trails Fund willreceive grants funds at a later date.
2 The present cash balance is not sufficienttomeet the present and projected,needs of the fund.
RESOLVED:
1.The Sanitation Fund 490 shall loan $50,000to the Paths and Trails Fund 114.
2.The loan shall bear interest at 3.75%per annum on the unpaid principal.
3.The loan shallbe repaid tothe Sanitation Fund 490 when the grant funds are received.
Adopted by theCity Council on December 13,2005.
RorÏaldC.Covey,Mayor
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Ronald R.Cone,Finance Director
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