HomeMy WebLinkAboutRes 0658 - Interfund Loan - City Hall GO Bonds Debt Service Fund
RESOLUTION NO. 658 A RESOLUTION PROVIDING FOR AN INTERFUND LOAN BETWEEN
THE LAND ACQUISITION, BUILDING AND DEVELOPMENT FUND
AND THE CITY HALL G.O. BONDS DEBT SERVICE FUND.
WHEREAS, The City Hall G.O. Bonds Debt Service Fund has
need of temporary financing until property taxes are received; and
WHEREAS, The Land Acquisition, Building and Development
Fund has temporary funds to invest:
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, DOES 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
transfer of funds:
From: Acct. 301/581.10 30,500
Loans Advanced (202 Fund)
TO: Acct. 202/381.10 30,500
Interfund Loan, Payable 301 Fund)
Section 2. That the above loan be for the period of 74 days
from the date of the Resolution and at the rate of 7.00% per annum.
Interest to be paid at 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