1525I I
RESOLUTION NO.1525
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE PARK
IMPROVEMENT FUND FROM THE CAPITAL IMPROVEMENT FUND
RECITALS:
1.The Park Improvement Fund isa capital fund for parkimprovementsto Cascade Park.
2. The presentcash balanceis not sufficient to meet the expenses of this fund.
RESOLVED:
1.The Capital Improvement Fund #308 shall loan$15,000 to the Park Improvement Fund #311 atan
interest rate of 8.5% per annum.
2. The loaned funds shall be used to pay currentand future billsof Fund #311.
3. The loan shallbe repaid to the Capital Improvement Fund #308 which accrue to Fund #311.
Adopted by the City Council on January 23, 1990.