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RESOLUTION NO.
/ - 105
A RESOLUTION providing for the transfer of $20,000.00
from the Current Expense Fund to the Library Fund
for Maintenance and Operation, by way of a loan re-
payable as soon as funds are available from tax re-
turns.
~mEREAS, the Library Fund is a tax supported fundi and
WHEREAS, tax returns do not come due until May 1965,
and it is now necessary to provide for maintenance and opera-
tion for the City Library, but there are not sufficient funds
in the Library Fund for the payment thereof, and it is neces-
sary that funds be loaned from the Current Expense Fund to the
Library Fund to cover the same; and
WHEREAS, there are now in the Current Expense Fund
sufficient funds so a loan may be made from said fund to the
Library Fund; and
WHEREAS, tax returns, when available to the Library Fund,
will be sufficient to repay said loan; now, therefore,
BE IT RESOLVED by the City Council of the City of Port
Angeles, as follows:
Section 1. That there by transferred by way of a loan
from the Current Expense Fund to the Library Fund the sum of
$20,000.00.
Section 2. That as soon as the tax returns make avail-
able funds sufficient that said sum be repaid to the Current
Expense Fund, that the same be immediately transferred from
the Library Fund to the Current Expense Fund.
PASSED by the City Council of the City of Port Angeles
and approved by its Mayor at a regular meeting of said City
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Council held on the
+day
Attest:
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C~ty Cler
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Deputy Ci ty ~-ttorney