HomeMy WebLinkAbout2024 Interfund Loan from Water-Sewer Fund to Kah Tai Park FundORDINANCE NO. ~2.X.~:2-~
AN ORDINANCE AUTHORIZING THE LOAN OF THE SUM
OF $40,000 FROM THE WATER-SEWER FUND TO THE
KAH TAI PARK 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 $40,000.00, for a term of six months
from the date hereof, from the Water-Sewer Fund to the Kah Tai Park 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
eight percent (8%).
Section 3. This Ordinance shal! 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 7, 1986.
Attest:
City
APPROVE AS TO ORM,; /?
City Attorney