1507RECITALS:
1.
RESOLUTION NO.1507
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN FORTHE STREET
IMPROVEMENT FUND FROM THE GENERAL FUND
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 loanan additional $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 bills of 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 October 24,1989.
ATTES