HomeMy WebLinkAbout2060 RESOLUT I ON # 2060
A RESOLUTION authorizing an
interfund loan for the Golf Course
Fun.~ for temporary cash needs.
WHEREAS, each of the several funds of the City
must have sufficient funds to pay their operating costs costs
~. prior to actual payment, and,
WHEREAS revenue for each fo the several funds is
not always realized prior to expenditure, thereby creating a
temporary cash flow, and,
WHEREAS, the General Fund has a surplus of cash
beyond it's immediate cash flow needs:
THEREFORE LET it be resolved by 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 $100,000.00 ( One-Hundred Thousand'
and No/10O C=ollars). Said loan shall bear interest at 75%
of the "base rate" as posted by People's National Bank of
ilsshingt<:,n. Said loan to be paid back within 180
days from whattever source of revenue may become available
for such purposes.
PASSED BY the City Council of the City of
Bremerton this 20 day of March, 1985.
BILL AMO
E.L. STURDIVANT
ROY MOSELY
JIM ADRIAN
CLYDE PACHEK
ART ANDERSON
PHIL DROUIN
SPENCER HORNING
RUSS JOHNSON
ATTEST:
KATHLEEN L.McCLUSKEY, City Clerk
Director of Administrative Services