HomeMy WebLinkAbout2084 Interfund Loan from Water-Sewer Fund to Library FundORDINANCE NO.
AN ORDINANCE AUTHORIZING THE LOAN OF THE SUM
OF $30,000 FROM THE WATER-SEWER FUND TO THE
LIBRARY FUND AND PROVIDING FOR REPAYMENT
THE CITY COUNCIL OF THE CITY ON PORT TOWNSEND, IN REGULAR SESSION ASSEMBLED,
DO ORDAIN AS FOLLOWS:
Section 1. The loan of. the sum of $30,000 for a term of three months from the
date hereof, from the Water-Sewer Fund to the Library Fund is here and hereby
authorized, and the City Clerk-Treasurer is hereby directed to make such transfer.
and the Mayor and said Clerk-Treasurer are authorized to draw warrants in accord
with the same.
Section 2. The repayment of the above mentioned loan shall be made at the end of
the term together with interest calculated at an annual rate of seven percent (7%).
Section 3. 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 September 15, 1987.
Attest:
City Clerk
Approved as to form:
City Attorney