HomeMy WebLinkAbout1976-1896 TEMPORARY LOAN OF $14,000 FROM 473-WATER-SEWER FUND TO 462-TRANSIT FUND; PROVIDING FOR REPAYMENT; FOR 1975. ORDINANCE NO. //
AN ORDINANCE authorizing a temporary loan of $14,000 from 473-Water-
Sewer Fund to 462-Transit Fund and providing for repay-
ment; and appropriating the amount of $14,000 to various
accounts as 1975 appropriations for 462-Transit Fund.
110 WHEREAS, 473-Water-Sewer Fund of the City of Yakima currently
contains uninvested cash in excess of $14,000 available for invest-
ment as provided by this ordinance, and
WHEREAS, a temporary loan of $14,000 to 462-Transit Fund is
necessary in order to pay salaries and costs for repairs and main-
tenance incurred in 1975, and
WHEREAS, the City Council finds it to be in the best interests
of the City to loan the amount of $14,000 from 473-Water-Sewer Fund
to 462-Transit Fund to be repaid within the time and with interest as
provided by this ordinance, and
WHEREAS, as the loan authorized by this ordinance becpmes
411 effective, the amount of $14,000 must be appropriated to various
accounts within 462-Transit Fund as provided by this ordinance; and
at the time of the adoption of the 1975 Budget it could not reason-
ably have been foreseen that such additional appropridtions would
be required; and the City Council finds that an emergency exists of
the type contemplated by R.C.W. 35.33.091 and that it is in the best
interests of the City to make the loan and the appropriations herein
provided, now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The amount of $14,000 is hereby transferred and
loaned from 473-Water-Sewer Fund to 462-Transit. Fund, said loan to
411 be repaid to 473-Water-Sewer Fund from 462-Transit Fund, together
with interest at the rate of 6% per annum, on or before June 30,
1976.
Section 2. As the loan and transfer authorized by Section 1
of this ordinance becomes effective, the amount of $6,500 is hereby
appropriated from unappropriated money in 462-Transit Fund to Account
462.546.33.11.100, and the amount of $7,500 is hereby appropriated
from unappropriated money in 462-Transit Fund to Account 462.546.33.38,
both as 1975 appropriations for 462-Transit Fund.
Section 3. The Finance Officer and City Treasurer of the
City of Yakima are hereby authorized and directed to make the neces-
sary transfers to carry out this ordinance.
Section 4. This ordinance is one making appropriations and
shall take effect immediately upon its passage, approval and publi-
cation as provided by law and by the City Charter.
*, SED BY THE CITY COUNCIL, signed and approved this/)
day c , 1976.
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Mayor
ATTEST:
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Cif Clerk /
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