1526RESOLUTION NO.1526
A RESOLUTION AUTHORIZING AN INTER-FUND LOANTO UUD #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 withinthe budget and account reporting system of the Cityof Moses Lake.
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 $15,000 to the U.LI.D.Account,#462 at an
interest rate of 8.5% per annum.
2. The loaned funds shall be used to pay current and future bills of Account #462.
3. Theloanshall be repaid totheWater/Sewer Fund'sAccount#477 from assessment bond proceeds
which accrue to Fund #462.
Adopted by the City Council on January 23,1990.
ATTEST: