Loading...
HomeMy WebLinkAboutRES 2415 CITY OF RENTON, WASHINGTON RESOLUTION NO. 2415 WHEREAS it is necessary and advisable and in the public interest to provide for the borrowing of certain funds pending receipt of tax monies due the City, 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 $500, 000.00 from the Street Forward q Thrust Fund, bearing interest at the rate of 15% per annum and sueh sum to be allocated unto the following described funds: 101 - PARK FUND --------------- $300,000. 00 103 - STREET FUND ------------- 200,000. 00 $500,000. 00 said loan from the aforementioned fund shall be repaid in any event not later than December 31 , 1981 . PASSED BY THE CITY COUNCIL this 17th day of August, 1981 . Delores A. Mead, Ci y Clerk APPROVED BY THE MAYOR this 17th day of August , 1981 . I Barbara Y. Shinpoc , Mayor Approved as to form: Lawrence J. Wa ren , City Attorney