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HomeMy WebLinkAboutRES 2217 • „ t 1 ef f I , A, CITY OF RENTON, WASHINGTON RESOLUTION NO. 2217 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 : SECTION 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 1/2% per annum and such sum to be allocated unto the following described funds : CURRENT FUND $450 ,000 . 00 PARK FUND 150 ,000 . 00 STREET FUND 200 , 000 . 00 LIBRARY FUND 50 ,000 . 00 CUMULATIVE RESERVE FUND #1698 50,000 . 00 (Fire Equipment) Total $900 ,000 . 00 said loan from the aforementioned fund shall be' repaid .in-any event no later than December 31 , 1978 . PASSED BY THE CITY COUNCIL this 25th day of September , 1978 Delores A. Mead, City lerk APPROVED BY THE MAYOR this 25th day of September , 1978 . 6?- Charles. elaurenti , Mayor Approved as to form: 6)&h4.4_,,e Lawrence J. Warren, City Attorney