HomeMy WebLinkAboutRES 2664 CITY OF RENTON
RESOLUTION NO. 2664
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON
AUTHORIZING THE 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 outside reimbursements due the City, NOW
THEREFORE,
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO RESOLVE
AS FOLLOWS:
SECTION 1: The Director of Finance is hereby authorized and directed to borrow the
sum, not to exceed $12,200, from the Current Fund, bearing the prevailing rate of interest
received by other city investments at the time of such borrowing, and such sum to be allocated
unto Local Improvement District No. 313. Said loan from the aforementioned fund shall be
repaid from the proceeds of the bonds to be issued after completion of the project.
PASSED BY THE CITY COUNCIL this 8th Day of December, 1986.
Maxine E. Motor, City Clerk
APPROVED BY THE MAYOR this 8th day of December, 1986.
ch.
Barbara Y. Shinpoch,Mayor
Approved as to form:
Lawrence J. Warren, Qjh Attorney