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RESOLUTION NO.1568
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO UUD #3
FROMTHE WATER/SEWER CONSTRUCTION ACCOUNT
RECITALS:
1.
2.
The U.LI.D.#3 Account 461 is a utility assessment account authorized by Ordinance #1339
ordering U.LI.D.#3 within the budget and account reporting system of the City of Moses Lake.
The present cash balance is not sufficient to meet the expenses of this account,which is a division
of 1985 Revenue Bond Account #460.
RESOLVED:
1.The Water/Sewer Fund's Account #477 shall loan $500.00 to the U.LI.D.#3 Account #461 at an
interest rate of 8.5% per annum.
2.The loaned funds shall be used to pay current and future bills on Account #461.
3. The loanshall be repaid totheWater/Sewer Fund'sAccount#477 from assessment bond proceeds
which accrue to Fund #461.
Adopted by the City Council on August 14,1990.
ATTEST: