HomeMy WebLinkAboutR-1990-D5784 Browne Avenue ProjectRESOLUTION NO. E- 5`7 8�
ARESOLUTION authorizing an Interfund loan from 551 -Equipment
Rental Fund to the 142 -Arterial Street Fund, and
providing for repayment.
WHEREAS, 551 -Equipment Rental Fund has sufficient resources
available for investment to make the Interfund Loan authorized by this
resolution; and
WHEREAS, funds must be loaned to the 142 -Arterial Street Fund in
order to provide sufficient current resources for the Browne Avenue 16th -to
Hall reconstruction project, and the City Council deems it to be in the best
interest of the City to make the Interfund Loan provided for herein, now,
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
YAKIMA:
The amount of $154,000 is hereby transferred and loaned from the
551 -Equipment Rental Fund, which loan, together with interest at the rate
of 9 percent per annum, is to be repaid from the 142 -Arterial Street Fund to
the 551 -Equipment Rental Fund on or before December 31, 1995. The
Director of Finance and Budget is hereby directed to make the necessary
transfer to accomplish the loan authorized by this resolution.
ADOPTED BY 'lith CITY COUNCIL this .2 day of July, 1990.
MAYOR
A LEST
CITY CLERK
LegeMel
Resolutions
RES It.