859RESOLUTION NO.859
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO ENTER INTO
TEMPORARY INTERFUND LOANS FOR THE PURPOSE OF MAINTAINING
SOLVENCY OF ALL CITY FUNDS
WHEREAS,Washington State Law as contained in RCW 35.39.030 requires that each
city fund retain a cash solvency position;and
WHEREAS, RCW 35.21.086 specifically outlines the steps necessary to bring insolvent
funds into a solvent position,
NOW,THEREFORE,BE IT RESOLVED:That authority is given to the Finance Director
to enter into temporary interfund loans at a 6% per annum interest rate for the
following specific loan from the General Fund to LID #37 Fund in the amount of $2,000
PASSED by the City Council of the City of Moses Lake,Washington,and APPROVED by
its Mayor this 14th day of February,1978.
City/Clerk (Acting)Jean C.Burton
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Mayor Pro Tern - Robert E.Hill
ATTEST: