HomeMy WebLinkAboutOrd 0971 - Interfund Loan for LID #27 Funds4
CITY OF TUKWILA
WASHINGTON
1976.
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City Attorne
ORDINANCE NO. 7 7 7
AN ORDINANCE PROVIDING FOR AN INTERDEPARTMENTAL
LOAN BETWEEN WATER /SEWER CONSTRUCTION FUND AND
THE LID 27 CONSTRUCTION FUND.
WHEREAS, It has become necessary to refinance the
LID 27 Construction Fund loan; and
WHEREAS, The LID 27 Construction Fund has need of
additional temporary financing; and
WHEREAS, The Water /Sewer Construction Fund has
surplus funds to invest;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
TUKWILA DO ORDAIN 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. #403/581.00 70,000.00
To: Acct. #700/581.27 70,000.00
Section 2. That the above loan be for the pre construction
period of the LID 27, not to exceed three (3) months from the
date of this Ordinance, and at the rate of 4.5 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 11r,GL day of
Attest:
J
MAYOR
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City Clerk
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