1480RECITALS:
RESOLUTION NO.1480
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN
The U.L.I.D.#3 Account 461 is a utility assessment account authorized
by Ordinance #1339 ordering U.L.I.D.#3 within the budget and account
reporting system of the City of Moses Lake.
The present cash balance is not sufficient to meet the expenses of this
account,which is a division of 1985 Revenue Bond Account #460.
RESOLVED:
1.The Water/Sewer Fund's Account #410 shall loan an additional $25,000 to
the U.L.I.D.#3 Account,#461,at an interest rate of 8.5%per annum.
2.The loaned funds shall be used to pay current and future bills of
Account #461.
3.The loan shall be repaid to the Water/Sewer Fund's Account #410 from
assessment bond proceeds which accrue to Fund #461.
Adopted by the City Council on May 23,1989.
ATTESTc
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City Clerk
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