1500RECITALS:
1.
RESOLUTION NO.1500
A RESOLUTION AUTHORIZING AN INTER-FUND LOAN
The U.LI.D.#4 Account 462 is a utility assessment account authorized by Ordinance #1342
ordering U.LI.D.#4 within the budget and account reporting system of the Cityof Moses Lake.
2. The present cash balance is not sufficientto 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 $100,000 to the U.LI.D.#4
Account, #462, at an interest rateof 8.5% perannum.
2. The loaned funds shall be used to pay current and future billsof Account #462.
3. The loan shall be repaid totheWater/SewerFund's Account#410 from assessment bond proceeds
which accrue to Fund #462.
Adopted by the City Council on September 12,1989.
J/Zj ki£
Finance Director