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RESOLUTION NO.1957
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE BUILDING MAINTENANCE
FUND 528 FROM THE WATER/SEWER FUND 410.
RECITALS:
1. The Building Maintenence Fund will receive FMHA loan proceeds at a later date.
2. The present cash balance is not sufficient to meet the present and projected needs of the fund.
RESOLVED:
1.The Water/Sewer Fund 410 shall loan $80,000 to the Building Maintenence Fund 528.
2. The loan shall bear interest at 5.00% per annum on the unpaid principal.
3. The loan shall be repaid to the Water/Sewer Fund 410 when the FMHA loan proceeds are
received.
Adopted by the City Council on April 23,1996.
ATTEST:
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Ffnance Director