1510RECITALS:
RESOLUTION NO.1510
A RESOLUTIONAUTHORIZING AN INTER-FUND LOAN TO ULID#4 FROM
THE WATER/SEWER CONSTRUCTION FUND
1. The U.LI.D.#4 Account 462 is a utility assessment account authorized by Ordinance #1342
ordering U.LI.D.#4 withinthe budget and account reporting system of the Cityof Moses Lake.
2. The present cash balance is not sufficientto meet the expenses ofthis account, which is a division
of 1985 Revenue Bond Account #460.
RESOLVED:
1. The Water/Sewer Fund's Account #477 shall loan $200,000 to the U.LI.D.#4 aCCOUNT,#462
at an interest rate of 8.5% per annum.
2. The loaned funds shall be used to pay current and future billsof Account #462.
3. The loanshall be repaid totheWater/Sewer Fund'sAccount#477 from assessment bond proceeds
which accrue to Fund #462.
Adopted by the City Council on November 14,1989.
ATTESfT:
U J/lfijZj
Finance Director