HomeMy WebLinkAbout2086RESOLUTION 2086
A RESOLUTION authorizing an interfund
loan for the Parking fund for temporary cash
needs.
WHEREAS, each of the several funds of the City mst have suffi-
cient funds to pay their operating costs prior to actual payment, and
WHEREAS, revenue for each of the several funds is not always
realized prior to expenditure, thereby creating a temporary cash flow, and,
WHEREAS, the LID GUARANTY Fund has a surplus of cash beyond it's
immediate cash flow needs:
NOW THEREFORE LET it be resolved, the City Treasurer is author-
ized to affect an interfund loan from 621 Fund to 105 Fund. Said loan to
be in the amount of $6002.88 (Six Thousand Two and Eighty-Eight/One Hundred).
Said loan shall bear interest at 75% of the "base rate" as posted by
People's National Bank of Washington. Said loan to be paid back within
60 days from whatever source of revenue may become available for such
purposes.
PASSED BY the City Council of the City of Bremerton this
day of October, 1985.
Morrie Dawkins, Mayor
City of Bremerton
ATTEST:
KATHLEEN L. MCCLUSKEY, City Clerk
Director of Administrative Services