HomeMy WebLinkAbout3222 RESOLUTION NO. 3222
A RESOLUTION, of the City Council of the City of
Bremerton, Washington, amending resolution No. 3211 relating to
interfund loans for the Park Avenue Plaza Project.
WHEREAS, pursuant to Resolution No. 3211, the City Council authorized
interfund loans to Fund 204 — 2010 UTGO /LTGO (B), Fund 306 — Park Plaza Phase II, and Fund
332 — Pacific Avenue Construction from Fund 001; and
WHEREAS, only the loan to Fund 306 — Park Plaza Phase II was issued; and
WHEREAS, each loan is to be repaid no later than June 30, 2014; and
WHEREAS, the City is waiting for the US Economic Development
Administration to close -out the grant for the project and therefore it is necessary to extend the
date of repayment of the loan; NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF BREMERTON, WASHINGTON,
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. Resolution No. 3211 is hereby amended to extend the date of
repayment of the interfund loan from June 30, 2014 to the last day of the month following receipt
of the grant reimbursement. All other terms of Resolution No. 3211 not specifically amended
herein shall remain in full force and effect.
SECTION 2. Severability. If any one or more sections, subsections, or
sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not
affect the validity of the remaining portion of this Resolution and the same shall remain in full
force and effect.
SECTION3. Effective Date. This Resolution shall take effect and be in force
immediately upon its passage.
PASSED by the City Council of the City of Bremerton, Washington this
day of , 2014.
U J�4 QL__91
GRE JEELER, Council President
APPROVED AS TO FORM: ATTEST:
ROGER A. LUIROVIC H SHANNON CORIN, City Clerk
R:\ Legal \Legal\Resolutions\Finance\2013 Interfund Loan - Amending Res.doc
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Interfund Loans —
Amendment to Resolution No. 3211