HomeMy WebLinkAboutRES 2160 •
•
CITY OF RENTON, WASHINGTON
RESOLUTION .NO . 2.160
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:
S'ECTIO`N 'I : The Director of Finance is hereby authorized
and directed to borrow the sum of $900 , 000 , 00 from the Street
Forward Thrust Fund, bearing interest at the rate of 4 1/2o per
annum and such sum to be allocated unto the following described
funds ;
CURRENT FUND $45.0 ,000 . 00
PARK. FUND 150 , 000 . 00
STREET FUND 200 , 000. 00
LIBRARY FUND 50 , 000 . 00
CUMULATIVE RESERVE FUND #1698 50 , 000 . 00
CFire Equipment)
Total $900 , 000 . 00
said loan from the aforementioned fund shall be repaid in any event
not later than June 30 , 1978 .
PASSED BY THE CITY COUNCIL this 23rd day of January, 1978
Delores A, Mee , City;• Clerk
APPROVED BY. THE MAYOR this 23rd day of January, 1978 ,
Charles Delaurenti, Mayor
r j-• .,,!�
Approv -"as to w
of ,
Lawrence J. Warren, City Attorney