HomeMy WebLinkAboutRES 2493 CITY OF RENTON, WASHI14GTON
RESOLUTION NO . 2493
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 outside reimbursements due the City , 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 $209 , 000 . 00 from
the Street Forward Thrust Fund , bearing the prevailing rate of
interest received by other City investments at the time of such
borrowing and such sure to be allocated unto the Arterial Street
Funds as required . Said loan from the aforementioned fund shall be
i
repaid in any event not later than April 29 , 1983 .
PASSED BY THE CITY COUNCIL this 14th day of February, 1983 .
a"ne E. Motor, _ty-Ie�—
APPROVED BY THE MAYOR this 14th day of February , 1983 .
Barbara Y. Shinpoc�h , Mayor
Approved as to form:
Lawrence J. W ren , City Attorney