HomeMy WebLinkAboutRES 2514 CITY OF RENTON, WASHINGTON
RESOLUTION N0. 2514
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON
AUTHORIZING INTERIM FINANCING FOR LID #32.5
WHEREAS it is necessary and advisable and in the public
interest to provide for the borrowing of certain funds for
interim financing for LID #325 pending receipt from the Bond
proceeds , NOW, THEREFORE
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO
RESOLVE AS FOLLOWS :
SECTION I : The Director of Finance is hereby authorized and
directed to borrow the sum of approximately $35 , 000 . 00 from
the Street Forward Thrust Fund (Fund 301) . The interest rate is
to be established at the prevailing rate at the time of the
initial borrowing, with the funds borrowed to be repaid in full ,
with interest , upon receipt of funds from sale of the bonds
for LID #325 .
PASSED BY THE CITY COUNCIL this 13th day of June, 1983 .
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Maxine E. Motor , City Clerk—
APPROVED BY THE MAYOR this 13th day of June , 1983 .
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Bar ara Y. S inp c Mayor
Approved as to form:
Lawrence J. WaVren, City Attorney