1036RESOLUTION NO.1Q36
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO MAKE TEMPORARY
INTERFUND LOANS FOR THE PURPOSE OF MAINTAINING FINANCING OF
VOLCANIC DISASTER CLEAN UP EXPENDITURES
WHEREAS,City of Moses Lake Ordinance No.961 provided for the making of expendi
tures for the related costs associated with the clean up of volcanic ash to be by
registered warrant;and
WHEREAS,the fiscal limitation on the issuance of registered warrants was set by
Ordinance No.961 at $1,152,302 exclusive of interest charges;and
WHEREAS,the accumulated expenditures for clean up of volcanic ash has exceeded
the fiscal limitation of $1,152,302;and
WHEREAS,the federal share of disaster assistance monies has not been received;
and
WHEREAS,to make payment on expenditures in excess of the fiscal limitations on
registered warrants totaling $1,152,302;it is necessary to provide for temporary
interfund loans;
NOW,THEREFORE,BE IT RESOLVED that authority be given to the Finance Director to
make temporary interfund loans from any of the funds enumerated below at an
interest rate equal to the rate on registered warrants at the time of issuance:
Water/Sewer Operating Fund
Sanitation Fund
Municipal Building Reserve Fund
Firemens Pension Fund
BE IT FURTHER RESOLVED that upon receipt of federal disaster assistance monies,
any outstanding indebtedness to any of these funds shall be immediately repaid.
PASSED by the City Council of the City of Moses Lake,Washington,and APPROVED by
its Mayor this 26th day of August,1980.
ATTEST:
City Clerk
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Mayor