HomeMy WebLinkAboutRes 0722 - Interfund Loan - Golf Course Unlimited 1978 GO Bond Debt Service FundCITY OF TUKWILA
Approved as to Form
Lawrenc
WASHINGTON
RESOLUTION NO. 722
A RESOLUTION OF THE CITY OF TUKWILA AUTHORIZING AN
INTERFUND LOAN BETWEEN THE STREET FUND AND
THE GOLF COURSE UNLIMITED 1978 G.O. BOND
DEBT SERVICE FUND.
WHEREAS, the Golf Course Unlimited G.O. Bond Debt Service Fund
has need of temporary financing until property taxes are received, and
WHEREAS, the Street Fund has temporary funds to invest.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, DO RESOLVE 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: Acct. 103/581.10 $104,500
Loans Advanced (204 Fund)
TO: Acct. 204/381.10 $104,500
Interfund Loan, Payable (103 Fund)
Section 2. That the above loan be repaid at the rate of 8.00%
per annum from the date of this resolution as follows:
DUE PRINCIPLE
After July 1980 property tax receipts 75,000
After December 1980 property tax receipts 29,500
$104,500
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a �=egt 4a meeting thereof this 8' day of 777Z
a/ �fiq
special
E.
ity Attorney, Hat-
Ma or
ATTEST:
C y C
Y
1980.