HomeMy WebLinkAbout06-83
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RESOLUTION NO.
t.-.?J
A RESOLUTION of the City of Port Angeles
authorizing an interfund loan from the
Equipment Rental Fund to the Solid Waste
Fund.
WHEREAS, the City of Port Angeles maintains a Solid
Waste Fund, charged with maintaining sanitary conditions within
the City limits1 and
WHEREAS, historical sanitation rates have not generated
sufficient income to guarantee continued operation of this fund1
NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT
ANGELES as follows:
section 1. That an inter fund loan of $20,000 from the
Equipment Rental Fund to the Solid Waste Fund is hereby
authorized.
Section 2. Said loan shall have a term of twelve (12)
months and shall carry an interest rate of 7.8% per annum.
Section 3. Said loan shall be repaid in equal monthly
installments commencing April 30, 1983. Said loan or any portion
thereof may be prepaid by the borrowing fund at any time without
interest penalty.
PASSED by the City Council of the City of Port Angeles
at a regular meeting of said council held on the /~~ day of
~
, 1983.
ATTEST:
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M A 0 R
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Marian C. Parrish, City Clerk
APPROVED AS TO FORM:
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