HomeMy WebLinkAboutRES 2134 t
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CITY OF RENTON, WASHINGTON
RESOLUTION N0. 2134
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 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: $ 500 , 000 . 00
PARK FUND: 200 ,000 . 00
LIBRARY FUND 75 ,000 . 00
STREET FUND 125, 000 . 00 . . ,
Total $ 900 ,000 . 00 -
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said loan from the aforementioned fund shall be repaid in any
event not later than December 31, 1977 .
PASSED BY THE CITY COUNCIL this 19thday of September, 1977 .
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Delores A. Mead, Ci y lerk
APPROVED BY THE MAYOR this 19th day of September , 1977 .
(2,-!,Z2Charles elaurenti, Mayor
Approved as to form:
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Ge and 1`1. S ellan, City Attorney