1959u
u
u
RESOLUTION NO.1959
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE STREET FUND 116
FROM THE WATER/SEWER FUND 410.
RECITALS:
1.The Street Fund will receive ISTEA funds at a later date.
2. The presentcash balance is not sufficient to meet the presentand projected needs of the fund.
RESOLVED:
1.The Water/Sewer Fund 410 shall loan $35,000 to the Street Fund 116.
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 ISTEA funds are received.
Adopted by the City Council on April 23,1996.
ATTEST:
Finance Director