HomeMy WebLinkAbout1970-1233 ORDINANCE NO. /,233
AN ORDINANCE extending the repayment date of a loan from 410- Transit
Fund to 390 - Airport Fund originally authorized by
Ordinance No. 1157, passed August 25, 1969; authorizing
a temporary loan of $8,500 from 410 - Transit Fund to
390- Airport Fund and providing for repayment thereof;
and appropriating the amount of $9,264 within 390 -Air-
port Fund.
WHEREAS, by Ordinance No. 1157, passed August 25, 1969, the
amount of $10,000 was loaned from 410 - Transit Fund to 390 - Airport
Fund to be repaid with interest on or before December 31, 1970, and
WHEREAS, 390 - Airport Fund will lack money with which to repay
the loan so authorized by Ordinance No 1157 and the repayment date
of that loan must be extended, and an additional temporary loan of
$3,500 must be made from 410 - Transit Fund to 390 - Airport Fund and,
along with other unappropriated money in that fund, must be appro-
priated for expenditure from that fund to reimburse the Arterial
Street Fund of the City for expenditures made on electrical work at
the airport performed in conjunction with the West Washington Avenue
4 public imprvovement project, and
WHEREAS, at the time of the adoption of the 1970 Budget, it
could not reasonably have been foreseen that the loan and appropria-
tion provided for herein would be required, and the City Council
finds that the best interests of the City require that the loan and
appropriation be made, now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The repayment date of the loan in the principal
amount of $10,000 from 410 - Transit Fund to 390- Airport Fund authorized
by Ordinance No. 1157, passed August 25, 1969, is hereby extended
from December 31, 1970, to no later than December 31, 1971, on or
III before which date said loan shall be repaid with interest at the rate
of 6% per annum.
Section 2. The amount of $8,500 is hereby loaned from 410 -
Transit Fund to 390 - Airport Fund, said loan to be repaid from 390 -
Airport Fund to 410 - Transit Fund, together with interest thereon at
the rate of 6% per annum, on or before December 31, 1971.
Section 3. The amount of $9,264 is hereby appropriated from
unappropriated money in 390 - Airport Fund to Account 340, Stationary
Equipment, Maintenance and Operation, of the Maintenance and Opera-
tion classification of the 1970 appropriation for 390- Airport Fund.
Section 4. The Director of Finance and the City Treasurer of
the City of Yakima are hereby authorized to make the necessary
transfers to carry out this ordinance.
Section S. This ordinance is one making an appropriation and
shall take effect immediately upon passage, approval and publication
as provided by law and by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this 27th day
of July, 1970.
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Mayor
ATTEST
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City Clerk
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