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RESOLUTION NO.1958
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE CENTRAL DRIVE
LID FUND 317 FROM THE WATER/SEWER FUND 410.
RECITALS:
1. The Central Drive LID Fund will receive bond proceeds at a later date.
2. The presentcash balanceis not sufficient to meet the presentand projected needs of the fund.
RESOLVED:
1.The Water/Sewer Fund 410 shall loan $40,000 to the Central Drive LID Fund 317.
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 Fund410 when the bond proceeds are received.
Adopted by the City Council on April 23,1996.
ATTEST:
Ffnance Director