1504u
RESOLUTION NO.1504
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN
RECITALS:
1. The present cash balance In the Street Improvement Fund #309 Is not sufficient to meet the
expenses of this fund.
RESOLVED:
1. The city's General Fund #000 shall loan $150,000 to the Street Improvement Fund at an interest
rate of 8.5% per annum.
2. The loaned funds shall be used to pay current and future billsof Fund #309.
3.The loan shall be repaid to the General Fund from revenues which accrue to Fund #309.
Adopted by the City Council on September 26,1989.
ATTEST:,
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Finance Director