HomeMy WebLinkAboutOrd 1003 - 1977 Budget Amendment - LID #28 Construction Fund 0 TA
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CITY OF
TUK
WASHINGTON
ORDINANCE NO. 1003 /4" 3
AN ORDINANCE PROVIDING FOR AN INTERDEPARTMENTAL LOAN
BETWEEN WATER /SEWER CONSTRUCTION FUND AND THE LID #28
CONSTRUCTION FUND.
WHEREAS, The LID #28 Construction Fund has need of temporary
financing; and
WHEREAS, The Water /Sewer Construction Fund has surplus funds
to invest;
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
transfer of funds:
From: Acct. #403 /581.10 /Loans Advanced 70,000.00
To: Acct. #700.381.10.28 /Loans Received 70,000.00
Section 2. That the above loan be for the pre- construction
f period of the LID #28, not to exceed four (4) months from the date
Ord, of this Ordinance, and at the rate of 4.125% interest to be paid at
4/0Z• the time of the repayment of the loan.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
At a regular meeting thereof this 7_th day of Fe,bruarL 1977.
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Mayor f
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Date Approved
ATTEST: /7/ /�/C
City CTerk
Approved as to Fo m:
City Attorney N
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Published: Record Chronicle: February 13, 1977