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RESOLUTION NO.1702
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE STREET
FUND 116 FROM THE CAPITAL IMPROVEMENT FUND #308
RECITALS:
1.The Street Fund is a special revenue fund. The Street Fund will receive a grant at a laterdate which
will provide funds.
2. The present cash balance is not sufficient to meet the expenses of this fund.
RESOLVED:
1. The Capital Improvement Fund #308 shall loan $250,000 to the Street Fund at an interestrateof
8% per annum.
2. The loaned funds shall be used to pay bills payable from the Street Fund #116.
3. The loan shall be repaid to the Capital Improvement Fund #308 fromrevenues whichaccrue to the
Street Improvement Fund #116.
Adopted by the City Council on August 25,1992.
ATTEST:
Finance Director