1964u
u
u
RECITALS:
RESOLUTION NO.1964
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN TO THE
STREET FUND 116 FROM THE WATER/SEWER FUND 410.
1.The Street Fund will receive ISTEA funds 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 $25,000 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 Fund 410 when the ISTEA funds are received.
Adopted by the City Council on May 28, 1996.
ATTEST:
finance Director