HomeMy WebLinkAboutOrd 0948 - 1975 Budget Amendment - LID #27 Construction Funds
CITY OF TUKWILA
ORDINANCE NO.
AN ORDINANCE PROVIDING FOR AN INTERDEPARTMENTAL
LOAN BETWEEN WATER /SEWER CONSTRUCTION FUND AND
THE LID #27 CONSTRUCTION FUND.
WHEREAS, The LID #27 Construction Fund has need of
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 $50,000.00
To: Acct. #700/581.27 $50,000.00.
Section 2. That the above loan be for the pre- construction
period of the LID #27, not to exceed six (6) months, and at the
rate of 5 1/2% interest to be paid at the time of the repayment
of the loan.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHI N, At a regular meeting thereof this /,1,llh day of
(>ZA,/,/t 1975.
Approved as to Form:
d4 City Attorney
Attest:
Published: Record Chsic,n∎Ct /tA y 5
_.:2.
Mayor
io- z-s-
e Approved
city Clerk