HomeMy WebLinkAboutRes 0698 - Interfund Loan - Foster Golf Course Unlimited GO Bond Debt Service Fund
RESOLUTION NO. 698 A RESOLUTION PROVIDING FOR AN INTERFUND LOAN BETWEEN
THE FOSTER GOLF LINKS ACQUISITION 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 Goster Golf Links Acquisition 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. 304/581.10 $51,000
Loans Advanced (204 Fund)
To: Acct. 204/381.10 $51,000
Interfund Loan, Payable (402 Fund)
Section 2. That the above loan be repaid after receipt of the
December 1979 property taxes and at the rate of 8.00% per annum starting from
October 1, 1979.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a regular meeting thereof this 1979.