1963\j
RESOLUTION NO.1963
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 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 $200,000 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 Fund 410 when the bond proceeds are received.
Adopted by the City Council on May 28, 1996.
Finance Director