HomeMy WebLinkAbout858 RESOLUTION NO. ~, ~
WHEREAS, on April 15, 1955, there will be due and payable
the sum of $3,000.00 on principal and $315.00 interest due on
City of Bremerton 1953 Sewer Funding Bonds; and
WHEREAS, as of April 1, 1955, the City of Bremerton has
cash on hand in the amount of $533.70 and delinquent taxes in
the amount of $222.78 and uncollected levy for 1955 taxes in
the amount of $5,605.88, total assets in the sum of $5,362.36; and
WHEREAS, it appears that taxes are slow in being collected
and paid to the City of Bremerton and the City will not have suf-
ficient cash to pay the principal and interest on said 19~3 Sewer
Funding Bonds s_nd that it is necessary that the City borrow tempor-
arily from one of its funds to the extent of $2,000.00 to meet the
bond and interest obligation.
NO~, THEREFORE, BE IT RESOLVED by the City Council of the
City of Bremerton that the sum of $2,000.00 be borrowed from the
Cumulative Reserve for General City Structures to be credited
to the 1953 Sewer Funding Bond Fund as a temporary loan and to
be repaid without interest by the Sewer Fund to the Cumulative
Reserve for General City Structures on or before June 15, 195&.
PASSED UNANIMOUSLY by the City Council of the City of
Bremerton, signed by the Mayor and attested by the City Clerk
in authentication of such passage this 15th day of April, 1955.
S. W. ufG~ELL, Mayor~.
ATTEST:
E.H.T. McGOWA~, City Clerk. '