Resolution 4550 - UDAG Loan to Stream Capital Project Fund2105
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RESOLUTION NO. 4550
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO ADVANCE FUNDS FROM
THE UDAG FUND TO THE STREAM CAPITAL PROJECT FUND IN THE AMOUNT OF
$500,000.00 FOR SHORT TERM FINANCING UNTIL GRANT MONIES ARRIVE.
WHEREAS, the City has in its UDAG account funds to be invested,
WHEREAS, the Stream Capital Project Fund needs to finance a
portion of the costs to be paid from grant funds for cash
flow purposes,
WHEREAS, the District anticipates receiving grant funds in 60 to
90 days, and
WHEREAS, the City is authorized and required to transfer funds
from one fund to another fund only by resolution or
ordinance.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
That the Finance Director is hereby authorized and
directed to advance the aforementioned funds from the
UDAG account to the Stream Capital Project Fund.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL
AND SIGNED BY THE MAYOR THIS 17TH DAY OF APRIL, 2000.
ATTEST:
eresa White
City Clerk
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Wm. E. Boharski
Mayor