HomeMy WebLinkAboutR-1992-D6186 Parks / Interfund LoanA RESOLUTION:
RESOLUTION NO.
4 U
Authorizing an Interfund loan from
551 -Equipment Rental Fund to the
331 -Parks Capital 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 331 -Parks and
Recreation Capital Fund in order to provide sufficient current
resources for Capital Improvement for City Parks projects, 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 $100,000 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 331 -Parks
and Recreation 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 THE CITY COUNCIL this i 5 -- day
of September, 1992.
ATTEST:
CITY CLERK