HomeMy WebLinkAboutRES 2325 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2325
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
BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE
CITY OF RENTON, WASHINGTON, 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 12% per annum and such
sum to be allocated unto the following described funds :
PARK FUND (101) $ 300,000 . 00
STREET FUND (103) 200 ,000. 00
LIBRARY FUND (106) 100 ,000 . 00
$ 600,000. 00
said loan from the aforementioned fund shall be repaid in any event
no later than June 30 , 1980 .
PASSED BY THE CITY COUNCIL this 7th. day of April , 1980 .
De ores A. Me d, C ' ty Clerk
APPROVED BY THE MAYOR this 7th day of .April, 1980
Barbara Y. Shinpoch, Mayor
Approved as to form:
Laurence J. WaTXen, City Kttornev