HomeMy WebLinkAboutR-1364 - Authorizing an interfund loan and designating the interest rateCIT Y 0 F MAR Y S V ILL E
Marysville,Washington
RESOLUTION NO.I 3 ~if
A RESOLUTION AUTHORIZING AN INTERFUND LOAN AND
DESIGNATING THE INTEREST RATE.
WHEREAS,the construction of improvements in U.L.I.D.
No.14,authorized by Ordinance No..J b 94 is estimated to cost
$107,000.00;and
WHEREAS,Ordinance No.1'94 authorizes the issuance of
short-term obligations for providing interim financing of said im-
provements;and
WHEREAS,bonds will be sold to redeem such interim fi-
nancing obligations upon completion of construction of the im-
provements and confirmation of the final assessment roll for
U.L.I.D.No.14;
NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF
MARYSVILLE,WASHINGTON,DO HEREBY AUTHORIZE AND DIRECT:
section 1.That the City
$107,000.00 from the Water/Sewer Revenue
Construction Fund to the U.L.I.D.No.14
Finance Director loan
Fund or from the Utility
Construction Fund;and
rate
year.
section 2.
of q,s %per
That said loan shall bear interest
annum,computed on the basis of a
at
365
the
day
this
ADOPTED
22--<P day of
by the City
~
CITY OF MARYSVILLE
the Mayor
ATTEST:
~rot:
APPROVED AS TO FORM: