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Home My WebLink About1862 Interfund Loan from Current Expense to Street FundOP/)INANCE NO. 1862~ AN ORDINANCE AUTHORIZING THE LOAN OF THE SUM - OF $20~000.00 FROM THE CURRENT EXPENSE FD/~D TO TH~ STREET FUND. THE CITY COUNCIL OF ~ CITY OF PORT TOWNSEND, IN REGULAR SESSION ASSEMBLED DO ORDAIN AS FOLLOWS: · ':~-~. se¢~ion'~i. The loan of the sum of $20,000.00~for a term of 6 months from'the datehereof~'fr~m~the ~ent F~pense Fund to the Street Fund with a~ 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 publicatio~ in the f0rm~and manner provided by law. approved-by.the Mayor 6n~Ma~'"~20, 1980. ATTEST: Read. for the firSt~; second and third times, passed by the Council and APPROVED AS TO FORM: ATTORNEY