HomeMy WebLinkAbout1965-713 ORDINANCE NO 74:3
AN ORDINANCE authorizing a temporary can of $9,520 from the Cumula-
tive Reserve Fund for Domestic Water Supply Development
to 350 - Cemetery Fund, and providing for the repayment
thereof; appropriating $9,520 from unappropriated monies
in 350 - Cemetery Fund, to Account 910, Land, of the
Cepital Outlay Classification, of the 1965 appropriation
for 350 - Cemetery Fund.
WHEREAS, the Cumulative Reserve Fund for Domestic Water Supply
Development currently contains uninvested cash in excess of $9,520
which is available for investment, and
WHEREAS, a temporary loan of $9,520 into 350 - Cemetery,Fund
is necessary in order to pey the purchase price, and incidental expenses,
for the purchese of real property for cemetery purposes, and
WHEREAS, the City Council finds it to be in the hest interests
of the City to make a temporary loan of $9,520 from the Cumulative
Reserve Fund for Domestic Water Supply Development to 350 - Cemetery
Fund, to be repaid on or before Septernber 20, 1969, with interest at
the rate of 47. per annum, and
WHEREAS, as such money is loaned, a5; contemplated above, it is
necessary that it be appropriated to Account 910, Land, of the Capital
Outlay Classification of 350 - Cemetery Fued, in order that it my
properly be disbursed For the purposes wentioned above, and
WHERE/\S, at the time of the adoption cf the 1965 Budget it could
not have been reasonably forseen that such a transfer and appropriation
would be required, and the City Council f that an efieergency exists
of the type contemplated by R.C.W. 35.33.090, and that it is in the
A s best interests of the people of the City of Yakima to make the transfer
111,
and appropriation herein provided, now tnerefore,
BE •IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF YAKltiA:
Section ). That the amount of $9,520 be transferred and ioaned
40 from Cumulative Reserve Fund for Domestic Water Supply Development to
350 - Cemetery Fund, said loan to be repaid, together with interest
thereon at the rate of 4% per annum, on or before September 20, 1969.
Sectiop 2. That said amount of $9,520 be appropriated From
unappropriated money in 350 - Cemetery Fuld to Account 910, Land, of
the Capital Outlay Ciassification of the 1965 appropriation for 350 -
Cemetery Fund.
Section 3. That the Director of Finance and the City Treasurer
of the City of Yakima are hereby authorized to make the necessary
transfers In order to carry out this ordinance.
Section 4. This ordinance is one making an appropriation and
shall take effect immediately upon its passaQe, approval and publica-
tion as provided by law and by the City Charter,
PASSED BY THE CITY COUNCiL, signed and approved this 27th day
of September, 1965.
IP /
Mayor
ATTEST:
City Clerk
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