2900Adopted by the City Council on August 14, 2007.
ATTEST:
Ronald R. Cone, Finance Director
Ronald C. Covey, May
•RESOLUTION NO. 2900
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
CAPITAL PROJECTS 2006 FUND 302 FROM THE SANITATION FUND
490.
RECITALS:
1.The Capital Projects 2006 Fund will receive funds at a later date.
2.The present cash balance is not sufficient to meet the financial needs of this fund.
RESOLVED:
1.The Sanitation Fund 490 shall loan $2,000,000 to the Capital Projects Fund 302 with interest at
5.25% per annum.
2.The loan shall be repaid to the Sanitation Fund 490 per the following schedule:
Date Payment Interest Principal Balance
2,000,000.00
8/1/08 262,163.04 105,000.00 157,163.04 1,842.836.96
8/1/09 262,163.04 96,748.94 165,414.10 1,677,422.86
8/1/10 262,163.04 88,064.70 174,098.34 1,503,324.52
8/1/11 262,163.04 78,924.54 183,238.50 1,320,086.02
8/1/12 262,163.04 69,304.52 192,858.52 1,127,227.50
8/1/13 262,163.04 59,179.44 202,983.60 924,243.90
8/1/14 262,163.04 48,522.80 213,640.24 710,603.66
8/1/15 262,163.04 37,306.69 224,856.35 485,747.31
8/1/16 262,163.04 25,501.73 236,661.31 249,086.00
8/1/17 262,163.02 13,077.02 249,086.00
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