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RESOLUTION NO. 1.J--7~
A RESOLUTION of the City Council of the City of Port
Angeles authorizing the temporary interfund loan of
$80,500.00 from the Current Expense Fund to the
Park and Recreation Fund.
WHEREAS, there was money budgeted in the 1973 Budget for the con-
struction of a West End Park, and estimated Federal Grant provided for
75% of the cost of construction; and
WHEREAS, progress payments have been made to the contractor, and
no matching funds have been received from the Federal Grant on this pro-
ject; and
WHEREAS, the Park and Recreation Fund does not have sufficient
funds to pay their obligations for the remainder of the year; now, there-
fore,
BE IT RESOLVED, that a temporary interfund loan of $80,500.00
from Current Expense Fund to the Park and Recreation Fund is hereby
authorized. This loan to be repaid from the monies as they are received
from the Federal Grant.
PASSED by the City Council of the City of Port Angeles and ap-
proved .by"its'-Mayor at a regular meeting of the Council held on the 18th
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day \;i December, 01973.
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Mayor
Attest:
Approved as to form:
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