1483RECITALS:
RESOLUTION NO.1483
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN
The L.I.D.#56 Fund 756 is an L.I.D.assessment account authorized by
Ordinance #1338 ordering L.I.D.#56 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.
RESOLVED:
1.The General Fund #000 shall loan an additional $25,000 to the L.I.D.#56
Fund #756,at an interest rate of 8.5%per annum.
2.The loaned funds shall be used to pay current and future bills of Fund
#56.
3.The loan shall be repaid to the General Fund #000 from assessment bond
proceeds which accrue to Fund #756.
Adopted by the City Council on June 13,1989.
ATTEST:
Finance Director T