HomeMy WebLinkAboutRES 1526 . ' � 1 I � � �
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RESOLU TIOp ��� � ' `
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kiHEZEAS it is necessary and in the publie interest, pending the
receipt of tax monies, to borrow certain funda !or the operation of various
City Departments as hereinbelow specified
AND 47HE�EAS it is neceasary that such funds be borrowed� as a loan.
from the Cit,y Hall Construction Fund, NOW THE2FFOitE�
BE IT �2ESOLVED BY THE MAYQR AND THl: CITY COUNCIL QF 14iE CI'IY OF
�2II9TON� WASHINGION� as follows:
SECTIO�V I: The City Clerk $nd City Treaaurer �re hereby authorized
and directed to transfer as a loan Prom Cit l�all Construetion Fuad the
Y .
following. to—wit:
Current Fund $300.000.00
City Street Fund 140�0�0.0�
LiDrary Fund 70�0O�.OJ
�510,000.00
and such transfers to be and constitute a te�pora�y loan to be repaid anto
said City Hall Constructi�n Fund not later than June 10� 1968 and such loon
to bear interest at the rate of 396 (Three per cent) per annum.
PASSED BY THE CITY COUNCIL this 25th day of Mar�h� 1968.
`,�:1-�'/l�t�� .,.����,`..�'
Helmie Pelson, Cify"�terk
APPitOVED BY THE MAYQ�Z this 25th d� March� lA6d�
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' G%�CJ-
onald F7.Custer� MayOr.
Approved as to form:
Gerard M. Shellan, City A tt�rney
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