Resolution 365RESOLUTION NO. 365
A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON,
AUTHORIZING AN INTERFUND LOAN FROM THE LID GUARANTY
FUND NO. 613 TO THE COMMUNITY DEVELOPMENT FEDERAL
SHARED REVENUE FUND NO. 191 AND STATING THE REASONS
THEREFORE.
WHEREAS, the City of Edmonds has been designated as the
recipient of certain grant monies from the federal government
for the purpose of making improvements to the Senior Citizens
Center, and
WHEREAS, said grant monies have not been received at
this time but are in the process of being procurred, and
WHEREAS, it is necessary to expend up to $2,000 at this
point in time in order to keep the project progessing in an
orderly fashion, now, therefore,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON RESOLVES
AS FOLLOWS:
There is hereby transferred from the LID Guaranty Fund No. 613
to the Community Development Federal Shared Revenue Fund No. 191 the
sum of $2,000 to be repaid from the grant monies to be received on
or before October 1, 1976, together with interest at the rate of
four percent per annum (said interest to be paid from applicable
revenues available for such purpose). The Finance Director is
hereby directed to effectuate the transfers and make other ap-
propriate entries in the records of the City to reflect this
authorization and make the necessary repayments without further
order of the City Council.
APPROVED:
ATTEST:
MAYORk, 'H . `H : TTARRI SON
CITY CLERK, IRENE ARNEY MORAN
FILED WITH THE CITY CLERK: July 22, 1976
PASSED BY THE CITY COUNCIL: July 27, 1976