HomeMy WebLinkAbout1970-1243 ORDINANCE NO. /
AN ORDINANCE authorizing a temporary loan of $46, 364 from 520 - Water-Sewer
fl Fund to 320 - Garbage Fund, and providing for repayment;
extending repayment dates of loans previously made from
520 - Water-Sewer Fund to 320 - Garbage Fund authorized by
Resolutions Nos. D-1423, adopted December 22, 1969 and
D-1500, adopted June 8, 1970; and appropriating the amount of
$44, 471 from unappropriated money in 320 - Garbage Fund to
various classifications and accounts within that Fund.
WHEREAS, 520 - Water-Sewer Fund contains uninvested cash in excess of
$46, 364 which is available for investment by the loan provided for herein, and
WHEREAS, the amount of $46, 364 is required in 320 - Garbage Fund, to
accommodate a change in customer billing procedures from advance billing to
billing in arrears as provided by Ordinance No. 1238, passed by the Yakima City
Council on August 10, 1970, and to finance operations of the Municipal Garbage
Division of the Public Works Department for the balance of the current year; and,
for the same purposes, it is necessary to extend the repayment date of loans
previously made from 520 - Water-Sewer Fund to 320 - Garbage Fund authorized
by Resolutions Nos. D-1423, adopted December 22, 1969, and D-1500, adopted
June 8, 1970, and
WHEREAS, the amount of $44,471 must be appropriated to various accounts
within 320 - Garbage Fund to pay salaries for regular employees, for necessary
part-time employees, to fill three vacant positions and to pay operating costs for
the balance of the current year, and
WHEREAS, the City Council deems it to be necessary and in the best interests
of the City that, the loan authorized by this Ordinance be made, that the repayment
date for existing loans be extended and that the appropriation provided by this
Ordinance be authorized, now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The amount of $46, 364 is hereby loaned from ,520 - Water-Sewer
Fund to 320 - Garbage Fund, said loan to be repaid, together with interest at 6%
per annum, to 520 - Water-Sewer Fund from 320 - Garbage Fund as follows:
One irsiallmert of principal in the amount of $10, 682, together
with interest as specified above, to be paid on or before
August 12, 1971; and the principal balance of $35, 682, together
with interest as specified above, to be paid on or before
August 12, 1972.
Section 2. Repayment dates of loans previously made from 520 - Water-
Sewer Fund to 320 - Garbage Fund authorized by Resolutions Nos. D-1423, adopted
December 22, 1969, in the principal amount of $12, 000 and D-1500, adopted
June 8, 1970, in the principal amount of $13, 000, are hereby extended from
December 31, 1970 to August 12, 1971, on or before which date the principal
III amounts of such loans, together with interest at the rate of 6% per annum, shall be
repaid to 520 - Water-Sewer Fund from 320 - Garbage Fund.
Section 3. The amount of $44, 471 is hereby appropriated from unappropri-
ated money in 320 - Garbage Fund to various classifications and accounts of the
1970 appropriation for 320 - Garbage Fund as follows:
Salaries and Wages Classification:
Account 7-010, Permanent and Probationary Personnel $ 3,722
7-020, Part-time, Temporary, Overtime,
Longevity and Special Assignment 17, 294
Sub Total $ 21, 016
Maintenance and Operation Classification:
Account 7-320, Rentals $ 23,455
Sub Total $ 23,455
• Total $ 44,471
Section 4. The Director of Finance and the City Treasurer of the City of
Yakima are hereby authorized and directed to make the transfers necessary to
carry out the provisions of this Ordinance.
Section 5. This Ordinance is one making an appropriation and shall take
effect immediately upon its passage, approval and publication as provided by law
and by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this 24th day of
August, 1970.
r_
Mayor
•
ATTEST:
sar-,apw
City Clerk
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