HomeMy WebLinkAboutRES 2249 VA
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CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2249
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 $900,000. 00 from theStreet
Forward Thrust Fund, bearing interest at the rate of 6% per .annum
and such sum to be allocated unto the following described funds :
CURRENT FUND $ 450,000
PARK FUND 150, 000
STREET FUND 200,000
LIBRARY FUND 100, 000
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TOTAL • $ 900, 000 •
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said loan from the aforementioned fund shall be repaid in any event
not later than Juni 304, 1979
PASSED BY THE CITY COUNCIL this 5 day of March, 1979 .
4De ores A. Mead, it Clerk
- APPROVED BY THE MAYOR this 5th day of March, 1979 . -
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Charles . Delaurenti, Mayor
. Appr ved as t form:
Lawrence J. W rren, City Attorney ,