Resolution 4722 - Loan to Hockaday Museum - Roof RepairRESOLUTION NO. 4722
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO LOAN FUNDS FROM
THE COMMUNITY DEVELOPMENT LOAN REVOLVING FUND TO THE HOCKADAY
MUSEUM OF ART IN THE AMOUNT OF $10,000 FOR CAPITAL FINANCING TO BE
USED FOR ROOF REPAIR.
WHEREAS, the City has in its Loan Revolving Fund money available
to be loaned, and
WHEREAS, the Hockaday Museum of Art improvements will be made to
a city owned structure, and
WHEREAS, the City is authorized to loan funds only by resolution
or ordinance.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
SECTION I. That the Finance Director is hereby
authorized and directed to advance the
aforementioned funds from the Community
Development Loan Revolving Fund to the
Hockaday Museum of Art to be repaid over
5 years at a rate of 3°6.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL
AND SIGNED BY THE MAYOR THIS 1ST DAY OF J , 2002.
ATTEST:
T eresa white
City Clerk