HomeMy WebLinkAboutRES 2662 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2662
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,
I
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 $301,545.00 from the
General 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 3rd day of November, 1986 .
Marilyn etersen, Deputy City Clerk
APPROVED BY' THE MAYOR this 3rd day of November, 1986.
Barbara Y. Shinpoc , Mayor
Approved as to form:
Law ence J. W en, City Attorney