HomeMy WebLinkAboutRes 0697 - Interfund Loan - City Hall Bond Debt Service Fund
RESOLUTION NO 697 A RESOLUTION PROVIDING FOR AN INTERFUND LOAN BETWEEN
THE SEWER FUND, AND THE CITY HALL G.O. BOND DEBT SERVICE
FUND.
WHEREAS, The City Hall 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 $48,000
Loans Advanced (202 Fund)
To: Acct. 202/381.10 $48,000
Interfund Loan, Payable (402 Fund)
Section 2. That the above loan be repaid after receipt of the
Dec: 1979 property tax allocation at the rate of 8.00% per annum starting from
November 1, 1979.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a regular meeting thereof this 1979.