HomeMy WebLinkAboutOrd 1070 - Interfund Loan for LID #28 Construction Fund COUNCIL ACTION
MTY I I I)c', I AIiEMA I ACTION
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CITY OF
TUKWIL
WASHINGTON 1 I I
ORDINANCE NO. 1070
/071)
AN BETWEEEN AND THE LID LOAN kt
LID #28;E` DF O 13\I
CONSTRUCTION FUND. --r E1D o /6,Y-6
Sk AMENDED BY
WHEREAS, Ordinance No. 1003, passed February 7, 1977, granted
an interfund loan from the Water /Sewer Construction Fund to the LID Uf D. N O.ii13
#28 Construction Fund in the amount of $70,000; and
WHEREAS, this loan was extended by Ordinance No. 1038 passed
September 19, 1977; and
WHEREAS, it is necessary to extend the loan again from a
different fund; and
WHEREAS, the Sewer Fund has investment funds available for
such a loan,
NOW THEREFORE, The City Council of the City of Tukwila do
ordain as follows:
Section 1. It has been determined that the interest of the
citizens of the City of Tukwila may best be served by the following
interfund loan:
From: Sewer Fund 402/581.00 $70,000.
To: LID #28 702/581.00 $70,000
Section 2. That the above loan be for the period of 90 days
from the date of this ordinance, and at a rate of 7% per annum interest
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 1 day of A u 1 1978.
I f dda.
Mayor
ATTEST:
City Clerk
AP ROVED AS TO FORM: R
tdOef 4 IV
D eputy City Attorney
Published: Record Chronicle, August 17, 1973.