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RECITALS:
RESOLUTION NO.1896
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
STREET FUND 116 FROM THE STREET REPAIR FUND 309
1.The present cash balance is not sufficient to meet the expenses of the Street Fund.
RESOLVED:
1.The Street Repair Fund #309 shall loan $20,000 to the Street Fund 116 at an interest rate of6%
per annum.
2.The loaned funds shall be used to pay bills from the Street Fund.
3.The loan shall be repaid to the Street Repair Fund #309 from revenues which accrue to the Street
Fund 116.
Adopted by the City Council on June 27,1995.
ATTEST:
Finance Director