Resolution 533RESOLUTION NO. 533
A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON
AUTHORIZING THE FINANCE DIRECTOR TO BORROW MONIES
AND ISSUE INTEREST -BEARING WARRANTS FOR PAYMENT
OF ACQUISITION OF A FIRE TRUCK.
WHEREAS, the City has purchased a fire truck for use in
fire suppression, and
WHEREAS, a means of interim financing is necessary, now,
therefore,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON,
HEREBY RESOLVES AS FOLLOWS:
Section 1. The finance director is hereby authorized to
borrow monies as needed to provide the necessary funds for the
acquisition and purchase of the fire truck. The term of said
financing shall not extend beyond August 1, 1983 and the
interest shall not exceed 9.75 percent per annum. The total
amount of said loans shall not exceed the sum of eighty
thousand seven hundred dollars ($80,700.00).
Section 2.. The finance director is authorized to issue
interest -bearing warrants in conformance with the authorization
contained in Section 1 of this resolution to such financial
institution selecting to provide said interim financing. Said
warrants are to bear interest at a rate not to exceed
9.75 percent per annum and shall be issued for a period
not to extend beyond August 1, 1983..The total amount of
said warrants shall not exceed the sum of eighty thousand
seven hundred dollars ($80,700.00).
Section 3. The warrants shall be paid from the
Anderson Cultural Center Fund No. 336, anticipated sales
tax revenues, and/or other available City funds.
RESOLVED this 28 day of September, 1982.
APPROVED:
MAYOR H. H. HARRISON
ATTEST/AUTHENTICATED:
CITY CLERK, IRENE ARNEY MORAN
APPROVED AS TO FORM:
OFFICE OF THE CITY ATTORNEY:
BY:
FILED WIT HE CITY CLERK: September 22, 1982