Resolution 3969 - General Fund to SID RevolvingO.
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RESOLUTION NO. 3969
A RESOLUTION AUTHORIZING THE CITY CLERK -TREASURER TO LOAN FUNDS
FROM THE GENERAL FUND TO SID REVOLVING FUND.
WHEREAS, the City has in its SID Revolving Fund a deficit
balance of $43,770.20, and
WHEREAS, said SID Revolving Fund monies are used to redeem
bonds and make coupon payments, and
WHEREAS, the City is authorized and required to transfer
funds from one fund to another fund only by resolution or
ordinance, and
WHEREAS, an appropriate fund to transfer said funds from is
the General Fund.
NOW, THEREFORE be it resolved by the City Council of the
City of Kalispell as follows:
That the City Clerk --Treasurer is hereby authorized and
directed to loan the amount of $43,770.20 from the
General Fund to the SID Revolving Fund at an interest
rate of 8.7%.
PASSED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AND
APPROVED BY THE MAYOR THIS 7th DAY OF January , 1991.
Dougla D. Rauthe, Mayor
ATTEST:'
Amy H. /Robertson
City Clerk -Treasurer
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