HomeMy WebLinkAboutRES 2432 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2432
WHEREAS it is necessary and advisable and in the public
interest to provide for the borrowing of certain funds pending receipt
of tax monies 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 of 8500 , 000 from the Street Forward
Thrust Fund, bearing interest at the rate of 10% per annum and such
sum to be allocated unto the following described funds :
000 CURRENT FUND $ 150 , 000 . 00
101 PARK FUND 100 , 000 . 00
103 STREET FUND 250 , 000 . 00
$ 500 , 000 . 00
said loan from the aforementioned fund shall be repaid in any event
not later than June 30, 1982 .
PASSED BY THE CITY COUNCIL thisllth day of January, 1982 .
Delores A. Mead, City Clerk
APPROVED BY THE MAYOR this llthday of January , 1982 .
Rwm .S oak.
Barbara Y. Shinpoch, Mayor
Approved as to form:
c
Lawrence J . Wa en, City Attorney