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ORDINANCE NO. /7.5-6
AN ORDINANCE shortening the time for payment of the loan
from the General Fund to the Off- Street Parking Fund,
and amending Ordinance No. 1685.
WHEREAS Ordinance No. 1685 provided for a loan from the
General Administrative Fund to the Off - Street Parking Fund in
the amount of $50,000.00 payable over a period of twenty -five
(25) years; and
WHEREAS a decision of the Attorney General of the State of
Washington can be interpreted to prohibit loans of this character
for this period of time; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PORT
ANGELES as follows:
Section 1.
Section 2 of Ordinance No. 1685 is hereby amended to read
as follows:
"Said loan shall be re -paid to the general fund
by the Off - Street Parking Fund over a three (3)
year period commencing with 1972, with interest
as set out in the existing contract between the
City of Port Angeles and the Downtown Parking
Association."
PASSED by the City Council of the City of Port Angeles
and approved by its Mayor at a regular meeting of the Council
held on the ]$.th day of January, 1972.
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MAYOR
',City 'Cler•3s
Approved as to form:
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City Attor
PUBLISHED: A4! e.,2 7 /9 7�