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HomeMy WebLinkAboutRES 2160 • • CITY OF RENTON, WASHINGTON RESOLUTION .NO . 2.160 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 BE. IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, AS FOLLOWS: S'ECTIO`N 'I : The Director of Finance is hereby authorized and directed to borrow the sum of $900 , 000 , 00 from the Street Forward Thrust Fund, bearing interest at the rate of 4 1/2o per annum and such sum to be allocated unto the following described funds ; CURRENT FUND $45.0 ,000 . 00 PARK. FUND 150 , 000 . 00 STREET FUND 200 , 000. 00 LIBRARY FUND 50 , 000 . 00 CUMULATIVE RESERVE FUND #1698 50 , 000 . 00 CFire Equipment) Total $900 , 000 . 00 said loan from the aforementioned fund shall be repaid in any event not later than June 30 , 1978 . PASSED BY THE CITY COUNCIL this 23rd day of January, 1978 Delores A, Mee , City;• Clerk APPROVED BY. THE MAYOR this 23rd day of January, 1978 , Charles Delaurenti, Mayor r j-• .,,!� Approv -"as to w of , Lawrence J. Warren, City Attorney