HomeMy WebLinkAboutOrd 1143 - LID #28 (Local Improvement District) - Extend Loan Period (COUNCIL ACTION'
MEETING A ITEM
TYPE CATS I ITEM 1 ACTION
1 OS I 4T//"3 i 4 i i ti
C I Ty F
T U K A
WASHINGTON
ORDINANCE NO. 1143 4/3 I
AN ORDINANCE OF THE CITY OF TUKWILA, WASHINGTON,
EXTENDING THE LOAN PERIOD ON L.I.D. #28 AND
AMENDING SECTION 1 AND 2 OF ORDINANCE NO. 1070.
WHEREAS, Ordinance No. 1070, passed August 7, 1978 and
amended by Ordinances No. 1086, passed November 6, 1978, No. 1103,
passed February 20, 1979 and No. 1122, passed August 6, 1979 granted
an interfund Loan to L.I.D. 28 in the amount of $70,000; and
WHEREAS, it is necessary to increase the loan amount and
the loan period;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA
DO ORDAIN AS FOLLOWS:
That Section 1 of Ordinance No. 1070 is amended as follows:
Section 1. The following interfund loan is authorized:
Ordinance 1070 New
Original Amount Increase Amount
From: Sewer Fund 402 /581.00 $70,000 $10,000 $80,000
To: L.I.D. 28 702/581.09 $70,000 $10,000 $80,000
That Section 2 of Ordinance No. 1070 is amended as follows:
Section 2. That the above loan be for the period of 369 649
610 days from the date of Ordinance 1070 and at a rate of 7% per annum
interest from 8/7/78 to 2/6/79 and at a rate of 9% per annum from 2/7/79
to be paid at the time of repayment of the loan.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a regular meeting thereof this 4 day of,4,4ocQ,c.a 1980.
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Mtyo r
ATTEST:
Z Clerk %L u C�' -L'4r.� Ci
Aplroved as to F rm:
frril
ty Attorney
Published Record Chronicle February 8, 1980