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RESOLUTION NO.1980
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
PATHS AND TRAILS FUND 114 FROM THE WATER/SEWER FUND
410.
RECITALS:
1. The Paths and Trails Fund will receive grant funds 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 $25,000 to the Paths and Trails Fund 114.
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 Fund 410 when the grant funds are received.
Adopted by the City Council on July 23, 1996.
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Mayor(
ATTEST:
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Finance Director