1516LJ
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RESOLUTION NO.1516
A RESOLUTIONAUTHORIZING AN INTER-FUND LOAN TO ULID #4 FROM
THE WATER/SEWER CONSTRUCTION ACCOUNT
RECITALS:
1.
2.
The U.LI.D.#4 Account 462 is a utility assessment account authorized by Ordinance #1342
ordering U.LI.D.#4 within the budget and account reporting system of the Cityof Moses Lake.
The present cash balance is not sufficientto meet the expenses ofthis account, which isa division
of 1985 Revenue Bond Account #460.
RESOLVED:
1.The Water/Sewer Fund's Account #477 shallloan $20,000 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 loan shall be repaid tothe Water/Sewer Fund's Account #477 from assessmentbond proceeds
which accrue to Fund #462.
Adopted by the City Council on December 19,1989.