1973u
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KJ
RESOLUTION NO.1973
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
CENTRAL DRIVE LID FUND 317 FROM THE WATER/SEWER FUND
410.
RECITALS:
1.The Central Drive LID Fund will receive bond proceeds at a later date.
2. The present cash balance is not sufficientto meet the present and projected needs of the fund.
RESOLVED:
1.The Water/Sewer Fund 410 shall loan $200,000 to the Central Drive LID Fund 317.
2.The loan shall bear interest at 5.00%per annum on the unpaid principal.
3. The loan shall be repaid to the Water/Sewer Fund410 when the bond proceeds are received.
Adopted by the City Council on June 25, 1996.
ATTEST:
\)«PJLJ^Z
Finance Director