HomeMy WebLinkAboutRES 2499 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2499
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 $200 ,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 sum to be allocated unto Local Improvement
District #324. 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 11th day of April , 1983.
Maxine E. Motor, City Clerk
APPROVED BY THE MAYOR this 11th day of April , 1983.
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Barbara Y. Shinpoch, Mayor
Approved as to form:
Lawrence J. rren, City Attorney