HomeMy WebLinkAboutRES 1786 - ..� --_' �, :3.-,,.^.:.'.,,. - i
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RESOLUTION N0. /�'7�� �
WHEREAS it is necessary and advisable to transfer the below- I
specified funds for the purpose �f providing proper matching funds
in connection �ith the constructinn of a new shop building for the
City` s Street Department in conjunction with that certain grant from
the Economic Development Administration and such transfer being
necessary and in the public interest and for the public benefit",
NOW THEREFORE
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BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF
RENTON, WASHINGTON, AS FOLLOWS :
SECTION I : The City Finance Director is hereby authorized and
directed to make the following transfer:
FROM: Building Maintenance Account ,
O11/518. 20. 62 $10 ,000 . 00
UNTO: City of Renton Street Department
Shop Account 303/518. 00 . 62 $10 ,000 . 00
which transfer, as hereinabove specified, constitutes the City' s
matching contribution on behalf of the aforementioned City Street
Department shop construction.
SECTION II : The City further agrees to maintain a separate
bank account for said project and to provide the necessary interim
financing up to a maximum of app. sixty percent (600) of the total
project cost , and said interim financing not to exceed ��p. $27 ,000 . 00 .
Necessary funds are to be transferred from time to time in order to
provide such interim financing as required by the Economic Develop-
ment Acizninistration.
PASSED BY THE CITY COUNCIL this 24th day of January, 1972.
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Helmie Nelson, City Clerk
APPROI7ED BY THE MAYOR this 2 4th day of^January, fi,9 7 2 .
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ery ar ett , Mayor