HomeMy WebLinkAboutRES 2358 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2aa
WHEREAS it is necessary and advisable and in the public
interest to provide for the borrowing of certain funds pending receipt
of tax monies due the City, NOW THEREFORE
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DO
RESOLVE AS FOLLOWS :
SECTION I : The Director of Finance is hereby authorized and
directed to borrow the sum of : $600,000.00 from the Street Forward Thrust
Fund, bearing interest at the rate of 9% per annum and such sum to be
allocated unto the following described funds :
PARK FUND $300,000. 00
STREET FUND 250,000. 00
LIBRARY FUND 50,000. 00
$600, 000. 00
said loan from the aforementioned fund shall be repaid in any event
not later than December 31 , 1980 .
PASSED BY THE CITY COUNCIL this 25th day of August, 1980.
Dei�e A. Mead Clerk
APPROVED BY THE MAYOR this 25th day of August , 1980.
Barbara Y. Shinpoch, Mayor
Approved as to form:
C�rtit.J��.•
Lawrence J . Warren, City Attorney