1509RESOLUTION NO.1509
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE PARK
IMPROVEMENT FUND FROM THE CAPITAL IMPROVEMENT FUND
RECITALS:
1.The Park Improvement Fund is a capital fund for park improvements to Cascade Park.
2. The present cash balance Is not sufficientto meet the expenses of this fund.
RESOLVED:
1.The Capital Improvement Fund #308 shall loan$25,000to the ParkImprovement Fund #311 at an
interest rate of 8.5% per annum.
2. The loaned funds shall be used to pay current and future billsof Fund #311.
3. The loan shall be repaidto the Capital Improvement Fund #308 which accrue to Fund #311.
Adopted by the City Council on November 14,1989.
ATTEST
Finance Director
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