HomeMy WebLinkAboutRES 2303 • :t
L e J
CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2303
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 $500 ,000 . 00 from the Street Forward
Thrust Fund, bearing interest at the rate of 6% per annum and such
sum to be allocated unto the following described funds :
PARK FUND $ 200 , 000 . 00
STREET FUND 200 , 000 . 00
LIBRARY FUND 100, 000 . 00
$ 500 , 000 . 00
said loan from the aforementioned fund shall be repaid in any event
not later than flerpmhpr 31 , 1979 •
PASSED BY THE CITY COUNCIL this 15th day of October, 1979 .
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Delores A. Ilea ity Clerk
y
APPROVED BY THE MAYOR this 15th day of October, 1979 .
Charles J . Delaurenti, Mayor
Approved as to form;
• K.--
Lawrence J . Waen, City Attorney