HomeMy WebLinkAboutRES 1228 •'� ` � o
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�r?HER�1S it is necess�ry for the below mentioned funds to borrok7 certG�?in
stzms fro�t the Cedrr River �lcquisitian Func3 pending receipt af tax monies and such
loans being necessary and requireci far the proper �dministr�tion of said City de— I
partments, NC�^1 THEP>uF0�2�',
BE IT RESOLVID BY TH� MAYOR AND TIiE CI'IY COUD?CIL OF THE CITY OF R�PITON
AS FOLLt7WS:
SECTION I: The City Cleric and the City Tre�surer �re hereby �_uthorized
and directed to transfer the fallc�wing sums from the Ced?r R.iver Acquisition �und,
tb-LC�I.t:
FRC�i: Ced�r River ��cquisition Fund $120,Q00.0� I
tJN'TO: Part: Fund $35,(700.00 II
LibrGry �'un� $15,000.QO �
Street Fund $20,p00.00 I
i Equipment Rental Fund $5C,0(70.00
I and said transfers shaii be and constitute a lo�n from said Cedar River Acquisition
' Fund to ths abave specifi.ed departments and bear interest at the rate of 4%, and
' said loans ta be repaid to the Cedar River Acquisition Fund, inciuding interest;
I not 1 ater than I}ecember 31 , 1964.
PASS�D BX 'I'HE CITSt CQUIICZL tt�is 27th day of January, 1964.
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I Helmie N�lson, City Clerk
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IAPPROVET3 BY THE Nir�YOR this 27th day of 3anuary, i96 . � I
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F�ank Aliment, Mapor
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APPROVED AS TO FORM:
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Ger�rd M. Shellan, City Attorney