HomeMy WebLinkAbout07/27/40 RESOLUTION
WHEREAS, Section VI of Chapter 24 of the 1939 Session Laws of the State of
Washington, grants to any city, town or county located wholly or in part within the
area of the operation of a Housing Authority, the power to lend money to such
Authority, and provides that such Authority shall make reimbursement for all such
loans made to it when it has money available therefor; and the Bremerton Housing
Authority has requested a loan of $2500.00 from the City of Bremerton to be repaid
as soon as funds are available, and has furnished the City of Bremerton with a
copy of a resolution passed by a majority of the Commissioners of said Authority
requesting the said loan,
NOW THEREFORE, BE IT RESOLV~D by the City Commission of the City of Bremerton
that the City of Bremerton lend the Bremerton Housing Authority the sum of $2500.00
by cash warrant drawn on the ~harf Fund, end deliver the same to the said Authority.
BE IT FURTHER RESOLVED that the Commissioner of Finance be and he is hereby
authorized and directed to negotiate with the said Authority in regard to the matter
of interest on the said l~an, with full authority to bind the City of Bremerton as
to whether or not interest shall be charged the said Authority, and if so, what rate
of interest.
BE IT ~I~TPUER RESOLVED that upon conclusion of such negotiations, the Commission~
of Finance report back to the City Commission, and if an interest rate has been
agreed upon, present to the City Commission, for filing, a resolution of said
Authority as to said interest rate.
PASSED by the City Commission of the City of Bremerton, signed by the Mayor,
and attested by the City Clerk in authentication of such passage, this 27th day of
July, 1940.
Attest: ' Mayor