HomeMy WebLinkAbout2106 Interfund Loan from Water-Sewer Fund to Library FundORDINANCE NO. ~)~
AN ORDINANCE AUTHORIZING THE LOAN OF
THE SUM OF $5,000 FROM THE WATER-SEWER
FUND TO THE LIBRARY 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 $5,000 for a term of two
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 March 15, 1988.
Attest:
Approv~ed as to form:
Ci tY~ey