HomeMy WebLinkAboutR-1991-D5867 Inter-Fund LoanRESOLUTION NO. D-5867
A RESOLUTION authorizing an Interfund loan from 551 -Equipment
Rental Fund to the 630 -Coalition for the War On Drugs
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 630 -Coalition for the War On
Drugs Fund in order to provide sufficient current resources for
continuation of operations for the next 90 -day period, 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 $25,000 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 630 -Coalition for the War On
Drugs Fund to the 551 -Equipment Rental Fund on or before March 31, 1991.
The Director of Finance and Budget is hereby directed to make the
necessary transfer to accomplish the loan authorized by this resolution.
ADOPTED BY THE CITY COUNCIL this9 )day of January, 1991.
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MAYOR
ATTEST:
CITY CLERK
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