Resolution 4714 - Loan - Ambulance Fund - MedicareRESOLUTION NO. 4714
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO LOAN FUNDS FROM
THE GENERAL FUND TO THE AMBULANCE FUND IN THE AMOUNT OF $ 5 5, 0 0 0 FOR
SHORT TERM FINANCING UNTIL MEDICARE PAYMENTS ARE RECEIVED.
WHEREAS, the City has in its General Fund account funds to be
invested,
WHEREAS, the Ambulance Fund has a receivable from Medicare for
funds needed for operations,
WHEREAS, the Ambulance Fund anticipates receiving funds in the
near future,
WHEREAS, the City is authorized and required to transfer funds
from one fund to another fund only by resolution or
ordinance, and
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 loan the aforementioned funds
from the General Fund account to the Ambulance
Fund at an interest rate of 29i5.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL
THIS 17TH DAY OF JUNE, 2002.
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Rand Ken
Council Chairman
ATTEST:
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Theresa White
City Clerk