HomeMy WebLinkAbout2120RESOLUTION #2120
A RESOLUTION reauthorizing certain
Interfund Loans and setting the terms
for repayment
WHEREAS, the City Council has by prior Resolutions
authorized certain Interfund Loans from time to time which are
presently outstanding in the following as amounts:
RES.# LOANED FROM LOANED TO AMOUNT DUE
208? CR General Parking System $15,010.33 12/9/85
2089 CR General Electronics 22,998.60 10/9/86
2091 Equip. Rental Res. Transportation 169,765.24 10/9/88
2096 General Golf Course 50,000.00 9/2/86
2105 General Golf Course ?0,000.00 5/22/86
and,
WHEREAS, the financial position of the various debtor
funds is such that repayment of the loans at this time is not
possible, and,
WHEREAS, certain of the loans have at this time extend-
ed beyond the time originally authorized, and,
WHEREAS, a comprehensive plan for repayment of the out-
standing interfund loans in an orderly and expeditious manner
will aid in the budgeting and management of the debtor funds:
NOW, THEREFORE, be it resolved that Resolutions No.
208?, 2089, 2091, 2096 and 2105 be and hereby are rescinded, and,
NOW, THEREFORE, be it further resolved that these
Interfund Loans previously authorized and presently outstanding,
are hereby reauthorized with repayments to be made in the
following manner:
LOANED FROM
CR Genera/
CR General
Equip. Rental Res.
General
PAYMENT PAYMENT
LOANED TO AMOUNT DUE
Parking System $ ?,500.00 9/1/87
?,510.33 9/1/88
Electronics 22,998.60 10/9/86
Transporation 55,000.00 12/1/86
55,000.00 12/1/87
59,765.24 12/1/88
Golf Course 40,000.00 12/1/87
40,000.00 12/1/88
40,000.00 12/1/89
Said loans shall bear interest at a rate equal to that
available to the City on interest bearing warrants under the
contract for banking services.
ADOPTED BY, the City Council of the City of Bremerton,
Washington, signed by the Mayor and attested by the City Clerk in
authentication of such passage this 2nd day of July, 1986.
GENE LOBE, MAYOR
CITY OF BREMERTON
ATTEST:
KATHLEEN L. McCLUSKEY, City Clerk
Director of Administrative Services