HomeMy WebLinkAboutRES 1296 bt-er-7(-6-',
RESOLUTION NO. /2.0
WHEREAS it is necessary for the belowmentioned Departments to borrow
certain funds pending receipt of tax monies, and
WHEREAS said loans are necessary for the proper administration of said
Departments and in the public interest, NOW THEREFORE
BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF RENTQ
AS FOLLOWS :
Section 1 : The City Clerk and City Treasurer are hereby authorized and
directed to borrow the following amounts from the Cedar River Acquisition Fund, to-
wit :
The sum of $50,000.00 for Current Fund
The sum of $25,000.00 for Park Fund
The sum of $30,000.00 for Street Department Fund
The sum of $10,000.00 for Library Fund
and the aforesaid funds shall be and constitute a loan from the Cedar River Acquisition
Fund to be repaid not later than December 31, 1965, bearing interest at the rate of
4k7. .
PASSED BY T: E CITY COUNCIL this 22nd day of March, 1965.
4'4
Helmie Nelson, City Clerk
APPROVED BY THE MAYOR this 22nd day of March, 1965.
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Donald W. Custer, Mayor
APPROVED AS TO FORM:
Gerard M. Shellan, City Attorney