HomeMy WebLinkAboutRES 2642 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2642
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON
AUTHORIZING BORROWING OF FUNDS
WHEREAS it is necessary and advisable and in the public interest to
provide for the borrowing of certain funds pending receipt of property
tax payments, 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, not to exceed $529,345.00 from the Current
Fund and such sum to be allocated unto the 1983. .Unlimited Tax General
Obligation Fund for the debt service payment. Said loan from the
aforementioned fund shall be repaid upon receipt of property taxes,
but in any event no later than December 31, 1986 .
PASSED BY THE CITY COUNCIL this 28th day of April, 1986 .
Maxine E. Motor, City Clerk
APPROVED BY THE MAYOR this 28th day of April, 1986 .
Barbara Y. Shinpoch, Mayor
Approved as to form:
Lawrence J. W en, City Attorney