HomeMy WebLinkAboutRES 2384 CiTY OF RENTON, WASHINGTON
RESOLUTION NO2
WHEREAS it is n:ec_essairy:-and_adv,iaable-andl 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 : $`600.,000.00 from the Street
Forward Thrust Fund, bearing- interest at -the rate of 97. per annum .
and such sum to be allocated unto the following described funds:.
PARK FUND ---------- ------ $2.50;000.00
STREET FUND ---=-------=--•- 250,000. 00
LIBRARY FUND
$600,000. 00
.
said loan from the, aforementioned . fund' s.hall be repaid in any event
not later than July 31 , 1981.
-PASSED BY THE CITY CONCIL this 9th day of March, 1981 .
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4 �•
Delores A. Mead, Cit Clerk
APPROVED BY THE MAYOR this 9th. day of March, 1981 .
f
r
is
Barbara Y. . inpoch, Mayor
Approved as to form:
Lawrence J. Warren•,: City Attorney.