HomeMy WebLinkAboutRES 2415 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2415
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 $500, 000.00 from the Street Forward
q
Thrust Fund, bearing interest at the rate of 15% per annum and sueh
sum to be allocated unto the following described funds:
101 - PARK FUND --------------- $300,000. 00
103 - STREET FUND ------------- 200,000. 00
$500,000. 00
said loan from the aforementioned fund shall be repaid in any event
not later than December 31 , 1981 .
PASSED BY THE CITY COUNCIL this 17th day of August, 1981 .
Delores A. Mead, Ci y Clerk
APPROVED BY THE MAYOR this 17th day of August , 1981 .
I
Barbara Y. Shinpoc , Mayor
Approved as to form:
Lawrence J. Wa ren , City Attorney