HomeMy WebLinkAbout1825 Interfund Loan from Water-Sewer Fund to 1978 Water Construction FundORDINANCE NO. 1825
AN ORDINANCE AUTHORIZING THE LOAN OF THE SUM
OF $200,000.00 FROM THE WATER-SEWER FUND TO
THE 1978 WATER CONSTRUCTION FUND, AND PROVIDING
FOR REPAYMENT.
THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND, IN REGULAR SESSION ASSEMBLED,
DO ORDAIN AS FOLLOWS:
Section 1. The loan of the sum of $200,000.00, for a term of 90 days
from the date hereof, from the Water Sewer Fund to the 1978 Water Construction
Fund with an interest rate of 5% per anum is here and hereby authorized, and
the City Clerk-Treasurer is hereby authorized to make such transfer, and the
Mayor and said Clerk-Treasurer are authorized to draw warrants in accord with
the same.
Section 2. This ordinance shall take effect upon its passage, approval
and publication in the form and manner provided by law.
Read for the first, second, and third times, passed by the Council and
approved by the Mayor on January 16, 1979.
~MAYOR
ATTEST:
CITY CLERK
APPROVED AS TO FORM:
CITY ATTORNEY