Resolution 4020 - Loan Funds from General Fund to Street Maintenance Fund233
RESOLUTION NO. 4020
A RESOLUTION AUTHORIZING THE CITY FINANCE DIRECTOR TO LOAN FUNDS
FROM THE GENERAL FUND TO THE STREET MAINTENANCE FUND.
WHEREAS, the City has in its Street Maintenance Fund a
deficit balance of $17,290.55 at October 10, 1991, and expects
further operating deficit balances until the special assessments
are received, and
WHEREAS, the City is authorized and required to transfer
funds from one fund to another fund only by resolution or
f 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 Finance Director is hereby authorized and
directed to loan the amount of $17,290.55 from the
General Fund to the Street Maintenance Fund at an
interest rate of 4.28% effective October 10, 1991.
That the City Finance Director is hereby authorized and
directed to make the additional loans necessary to
cover operating expenses until the special assessment
revenue is received in December.
PASSED AND APPROVED BY THE CITY COUNCIL AND MAYOR OF THE CITY OF
KALISPELL THIS 21st DAY OF October , 1991.
Dougla D. Rauthe, Mayor
ATTEST:
av Robertson
Finance Director
i