1962RESOLUTION NO.1962
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
BUILDING MAINTENANCE FUND 528 FROM THE WATER/SEWER
FUND 410.
RECITALS:
1.The Building Maintenance 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 $75,000 to the Building Maintenance 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 May 28, 1996.
ATTEST:
Finance Director