HomeMy WebLinkAbout1964-512 ORDINANCE NO
AN ORDINANCE extending the time for repayment of a loan to the Munici-
pal Airport Fund, and amending Section 1 of Ordinance No.
342, passed on May 28, 1962, entitled "An Ordinance
zuthorizing a temporary loan of $20,000 from the Water
Deposits Fund to the Municipal Airport Fund, providing
for repayment, and declaring an emergency".
WHEREAS, by Ordinance No. 342, passed on. May 28, 1962, the sum
of $20,000 was transferred and loaned from the Water Deposits Fund to
the Municipal Airport Fund, to be repaid, together with interest at
310 per annum, on or before May 28, 1964, and
WHEREAS, money will not be available to repay said loan as
originally contemplated, and it is therefore necessary to extend the
time for repayment of such loan until December 31, 1964, now, therelbre,
BE IT ORDAINED BY THE CITY OF YAKIMA:
0 Section 1. That Section 4 of Ordinance Nov 342, passed on May 28,
1962, entitled "An Ordinance authorizing a temporary loan of-$20,000
from the Water Deposits Fund to the Municipal Airport Fund, providing
for repayment, and declaring an emergency", is hereby amended to read
as follows:
"Section 1. That the sum of $20,000 is hereby transferred
and loaned from the Water Deposits Fund to the Municipal Airport
Fund to be repaid on or before December 31, 1964, together with
interest at 3 per annum".
Section 2. This Ordinance shall be in full force end effect thirty
days after its passage, approval and publication as provided by law and
by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this 30th day of
March, 1964.
41/ 4 JCM' a LARSON
ATTEST:
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sJ J Mayor
f' CL:E;g1
City Clerk
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