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RECITALS:
RESOLUTION NO.1758
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE PARK
AND RECREATION IMPROVEMENT FUND 314 FROM THE CAPITAL
IMPROVEMENT FUND 308
1. The Parkand Recreation Improvement Fund is a Capital Improvement Fund and will receive bond
funds at a later date which will provide funds.
2. The present cash balance is not sufficientto meet the expenses of this fund.
RESOLVED:
1.The Capital Improvement Fund #308 shall loan$300,000 to the Park and Recreation Improvement
Fund at an interest rate of 5% per annum.
2. The loaned funds shall be used to pay bills payable from the Park and Recreation Improvement
Fund.
3. The loan shallbe repaidto the Capital Improvement Fund #308 from revenues which accrue to the
Park and Recreation Fund #314.
Adopted by the City Council on July 27,1993.
ATTEST: