HomeMy WebLinkAboutRES 2457 J5
CITY OF RENTON, WASHINGTON
RESOLUTION NO . 2457
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 FOLL0WS :
SECTION I : The Director of Finance is hereby authorized
and directed to borrow the sum of $700 , 000 . 00 from the Street
Forward Thrust Fund , bearing interest at the rate of 8% per annum
and such sum to be allocated unto the following described funds :
000 CURRENT FUND $ 350 , 000 . 00
101 PARK FUND $ 200 , 000 . 00
103 STRELT FUND $ 150 , 000 . 00
$ 700 , 000 . 00
said loan from the aforementioned fund shall be repaid in any
event not later than December 31 , 1982 .
PASSED BY THE CITY COUNCIL this 7th day of June , 1932 .
Delores A. ead , city Cleric
APPROVED BY THE MAYOR this 7th day of June , 1982 .
-GA&w S OC.h. --- -
Barbara YY Shinp6ch, Mayor
Approved as to form:
Lawrence J . Warren, City Attorney