HomeMy WebLinkAbout2105 RESOLUTION #2105
A RESOLUTION authorizing an
interfund loan for the Golf Course
Fund for temporary cash needs.
WHEREAS, each of the several funds of the CiTy
must have sufficient funds to pay their operating costs
prior to actual payment, and,
WHEREAS revenue for each fo the several funds is
not always realized prior to expenditure, tnereoy creating a
temporary cash flow, an6,
WHEREAS, the General Fund has a surplus of cash
beyond it's immediate cash flow needs:
NOW THEREFORE LET it be resolved, the City
Treasurer is authorized to affect an interfund loan from
The General Fund to The Golf Course Fund. Said loan to
be in the amount of $80,000.00 (Eighty Thousand and
No/100 dollars). Said loan shall bear interest at ?5% of
the "base rate" as posted by People's National Bank of
Washington. Said loan to be paid back within 180
days from whatever source of revenue may become available
for such purposes.
PASSED BY the City Council of the City o~
Bremerton this ~ ~ day of ~ac~_~._~._ , !9~ .
~Mayor
~. DAWKIKS,
ATTEST:
KATHLEEN L. MCCLUSKEY