1072U
RESOLUTION NO.1072
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO MAKE
TEMPORARY INTERFUND LOANS FOR THE PURPOSE OF COMPLETING
FINANCING OF VOLCANIC DISASTER CLEAN UP EXPENDITURES.
WHEREAS,City of Moses Lake Ordinance No.1038 provided for the refinancing
of registered warrants assocated with the clean up of volcanic ash and
Resolution #1036 provided for temporary interfund loans for financing;and
WHEREAS,the Volcanic Ash Fund is in an insolvent condition;and
WHEREAS,the State of Washington is requesting payment of the balance due
from the City of Moses Lake upon said registered warrants;and
WHEREAS,to bring this fund to a solvent condition,repay the State of Wash
ington,and pay the Volcanic Ash Pile stablization claims as they become due,
it is necessary to provide interfund loans;
NOW,THEREFORE,BE IT RESOLVED that authority be given 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
Convention Center Reserve Fund
Firemen's Pension Fund
U.L.I.D.#1
BE IT FURTHER RESOLVED that upon receipt of Federal Disaster Assistance monies
and FHWA 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 23rd day of June,1981.
ATTEST:
'AJtlMiJ ^
City Clerk
appI^ed AS
James A.Whitaker
City Attorney
MAYOR