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RES 4432
CITYOFRENION,WASHINGTONRESOLUTIONNO.4432ARESOLUTIONOFTHECITYOFRENTON,WASHINGTON,GRANTINGAUTHORITYFORANINTERFUNDLOANTOFUND424,MAPLEWOODGOLFCOURSE(MWGC)CIPFORTHEPURCHASEOFNEWGOLFCARTS.WHEREAS,theCityCounciladoptedResolutionNo.3811onMay22,2006,whichgrantedauthorityforloansbetweenCityfundsundercertainconditionsandcircumstances;andWHEREAS,pursuanttoResolutionNo.3811,theCityCouncilshallapprovebyresolutionloansover90daysbetweenCityfunds;andWHEREAS,Fund424MWGCCIPisinneedofaloanover90daysfromtheGeneralFund000fundbalancetopurchase60newgolfcartstolowermaintenancecostsandincreaseservicecapacity;NOW,THEREFORE,THECITYCOUNCILOFTHECITYOFRENTON,WASHINGTON,DORESOLVEASFOLLOWS:SECTIONI.TheCityCouncilauthorizesaninterfundloanintheamountof$225,308.64toFund424,MWGCCIPforthepurchaseofnewgolfcarts,fromtheGeneral000fund,overaperiodnottoexceedfiveyearsfromtheeffectivedate.TheeffectivedateoftheinterfundloanwillbeonApril12,2021andshallbearinterestusingtheCity’sblendedinvestmentrateat1%perannumbasedontheamortizationtableattachedheretoandincorporatedbythisreference.PASSEDBYTHECITYCOUNCILthis26thdayofApril,2021.JasofA.Seth,yClerk1 RESOLUTIONNO.4432APPROVEDBYTHEMAYORthis26thdayofApril,2021.•Aavony7Approvedastoform:ShaneMoloney,CityAttorneyRES.1875:4/2/212 RESOLUTIONNO.4432AMORTIZATIONTABLEINTERFUNDLOANTOFUND424,MAPLEWOODGOLFCOURSE(MWGC)CIPFORTHEPURCHASEOFNEWGOLFCARTS3 LoanAmount$225,308.64Periods(5Years)60Rate(1%Annual)0.0833%Payment$3,851.37Months—BeginningPmtInterestPrincipalEndingBalance1$225,308.64$3,851.37$187.76$3,663.61$221,645.032$221,645.03$3,851.37$184.70$3,666.66$217,978.363$217,978.36$3,851.37$181.65$3,669.72$214,308.644$214,302.64$3,851.37$172.59$3,672.78$210,635.265$210,635.86$3,851.37$175.53$3,675.84$206,960.036$206,960.03$3,851.37$172.47$3,678.90$203,281.127$203,281.12$3,851.37$169.40$3,681.97$199,599.162$199,599.16$3,851.37$166.33$3,685.04$195,914.129$195,914.12$3,851.37$163.26$3,688.11$192,226.0110$192,226.01$3,851.37$160.19$3,691.18$188,534.8311$188,534.83$3,251.37$157.11$3,694.26$184,840.5712$184,840.57$3,851.37$154.03$3,697.34$181,143.2413$181,143.24$3,851.37$150.95$3,700.42$177,442.8214$177,442.82$3,851.37$147.87$3,703.50$173,739.3215$173,739.32$3,851.37$144.78$3,706.59$170,032.7416$170,032.74$3,851.37$141.69$3,709.68$166,323.0617$166,323.06$3,851.37$138.60$3,712.77$162,610.3018$162,610.30$3,851.37$135.51$3,715.86$158,894.4319$158,894.43$3,251.37$132.41$3,718.96$155,175.4820$155,175.48$3,851.37$129.31$3,722.06$151,453.4221$151,453.42$3,851.37$126.21$3,725.16$147,728.2622$147,728.26$3,851.37$123.11$3,722.26$144,000.0023$144,000.00$3,851.37$120.00$3,731.37$140,268.6324$140,268.63$3,851.37$116.89$3,734.48$136,534.1525$136,534.15$3,851.37$113.78$3,737.59$132,796.5626$132,796.56$3,851.37$110.66$3,740.71$129,055.8627$129,055.86$3,851.37$107.55$3,743.82$125,312.0428$125,312.04$3,851.37$104.43$3,746.94$121,565.0929$121,565.09$3,851.37$101.30$3,750.06$117,815.0330$117,815.03$3,851.37$98.18$3,753.19$114,061.8431$114,061.84$3,851.37$95.05$3,756.32$110,305.5232$110,305.52$3,851.37$91.92$3,759.45$106,546.0733$106,546.07$3,851.37$88.79$3,762.58$102,783.4934$102,783.49$3,851.37$85.65$3,765.72$99,017.7835$99,017.78$3,851.37$82.51$3,768.85$95,248.9236$95,248.92$3,851.37$79.37$3,771.99$91,476.9337$91,476.93$3,851.37$76.23$3,775.14$87,701.7938$87,701.79$3,851.3?$73.08$3,778.28$83,923.5139$83,923.51$3,851.37$69.94$3,781.43$80,142.0740$80,142.07$3,851.37$66.79$3,784.58$76,357.4941$76,357.49$3,851.37$63.63$3,787.74$72,569.7542$72,569.75$3,851.37$60.47$3,790.89$68,778.86 43$68,778.86$3,851.37$57.32$3,794.05$64,984.8044$64,984.80$3,851.37$54.15$3,797.21$61,187.5945$61,187.59$3,851.37$50.99$3,800.38$57,387.2146$57,387.21$3,851.37$47.82$3,803.55$53,583.6647$53,583.66$3,851.37$44.65$3,806.72$49,776.9548$49,776.95$3,851.37$41.48$3,809.89$45,967.0649$45,967.06$3,851.37$38.31$3,813.06$42,154.0050$42,154.00$3,851.37$35.13$3,816.24$38,337.7651$38,337.76$3,851.37$31.95$3,819.42$34,518.3352$34,518.33$3,851.37$28.77$3,822.60$30,695.7353$30,695.73$3,251.37$25.58$3,825.79$26,869.9454$26,869.94$3,851.37$22.39$3,828.98$23,040.9655$23,040.96$3,851.37$19.20$3,832.17$19,208.8056$19,208.80$3,851.37$16.01$3,235.36$15,373.4357$15,373.43$3,851.37$12.81$3,838.56$11,534.8858$11,534.88$3,851.37$9.61$3,841.76$7,693.1259$7,693.12$3,851.37$6.41$3,844.96$3,848.1660$3,848.16$3,851.37$3.21$3,848.16$(0.00)$231,082.14$5,773.50$225,308.64