HomeMy WebLinkAboutRES 2477 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2477
A RESOLUTION AUTHORIZING INTERIM FINANCING FOR
LID #320
WHEREAS it is necessary and advisable and in the public
interest to provide for the borrowing of certain funds for interim
financing for LID #320 pending receipt from the Bond proceeds
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 approximately $22 , 825 . 01 from the
(Fund 40 1)
Waterworks Utility Fund A The interest rate is to be established a _
the prevailing rate at the time of the initial borrowing, with
the funds borrowed to be repaid in full , with interest upon receipt
of funds from sale of the bonds for LID #320 .
PASSED BY THE CITY COUNCIL this ilthday of October, 1982 .
<,iZE'>c-('_- Ccs � r ��Maxne�otr ,
-CiActg City
APPROVED BY THE MAYOR this llthday of October , 1982 .
Barbara Y'. - Shinpoch, Mayor
Approved as to form:
La rence J. Wa&en, City Attorney