HomeMy WebLinkAboutRes 0680 - Interfund Loan - Golf Course Unlimited 1978 GO Bond Debt Service FundCITY OF UKW14
App oved as to Form:
putt' City Attorney
WASHINGTON
RESOLUTION NO 680
A RESOLUTION PROVIDING FOR AN INTERFUND LOAN BETWEEN
THE SEWER 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 Sewer 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 interfund
loan:
From: Acct. 402/581.10 $90,000
Loans Advanced (204 Fund)
To: Acct. 204/381.10 $90,000
[nterfund Loan, Payable (402 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 1979 property tax receipts $75,000
After December 1979 property tax receipts 15,000
$90,000
PASSED BY THE CITY COUNCIL F THE CITY OF TUKWILA, WASHINGTON,
at a regular meeting thereof this o2 day of 1979.
ATTEST:
E:+ad.4-adA-ei
COUNCU._ ACTION
AIEFIM I Da E AGENDA 0.CTIC
e/v 1 RM
11?Pi :Z /a-I P
City Clerk