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CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2217
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
BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE
CITY OF RENTON, WASHINGTON, AS FOLLOWS :
SECTION I : The Director of Finance is hereby authorized
and directed to borrow the sum of $900 ,000 . 00 from the Street
Forward Thrust Fund, bearing interest at the rate of 4 1/2% per
annum and such sum to be allocated unto the following described
funds :
CURRENT FUND $450 ,000 . 00
PARK FUND 150 ,000 . 00
STREET FUND 200 , 000 . 00
LIBRARY FUND 50 ,000 . 00
CUMULATIVE RESERVE FUND #1698 50,000 . 00
(Fire Equipment)
Total $900 ,000 . 00
said loan from the aforementioned fund shall be' repaid .in-any event
no later than December 31 , 1978 .
PASSED BY THE CITY COUNCIL this 25th day of September , 1978
Delores A. Mead, City lerk
APPROVED BY THE MAYOR this 25th day of September , 1978 .
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Charles. elaurenti , Mayor
Approved as to form:
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Lawrence J. Warren, City Attorney