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RESOLUTION ~/_j(d
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A RESOLUTION of the City of Port Angeles,
Washington, authorizing an interfund loan
from the Cemetery Endowment Fund to the
Cemetery Depart~ent of the Current Expense
Fund. "-
WHEREAS, the 1980 Budget a~~d the. construction of a mauseoleum
at crc-ean View Cemetery; and ~
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7 WHEREAS, the 1980 Budget approved construction costs to be financed
8 by a loan from the Cemetery Endowment Fund;
9 NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Port
10 Angeles, as follows:
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1. An interfund loan of $31,000.00 is hereby authorized from the
Cemetery Endowment Fund to the Current Expense Fund.
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2. Said loan shall have a term of thirty-six (36) months and carry
an interest rate of 9 percent per annum.
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3. The loan shall be repaid in equal monthly installments commencing
January 1, 1981, from proceeds of sales of mausoleum crypts.
Interest shall accrue from the date of the loan transfer.
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PASSED by the City Council of the City of Port Angeles this ~ day
of ~ , 1980.
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.,e:; Mayor
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ATTEST:
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Marian-C. Parrish, City Clerk
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