Resolution 4240 - Purchase Ambulance1189
RESOLUTION NO. 4240
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO ADVANCE FUNDS
FROM THE SEWER REPLACEMENT AND DEPRECIATION ACCOUNT TO THE
AMBULANCE FUND IN THE AMOUNT OF $30,000 FOR A PERIOD OF 3 YEARS AT
6.4% FOR THE PURPOSE OF FINANCING THE PURCHASE OF AN AMBULANCE.
WHEREAS, the City has in its Sewer Replacement and
Depreciation account funds to be invested on a long term basis, and
Whereas, the Ambulance Fund wishes to finance a portion of the
cost of the new ambulance over three years, and
WHEREAS, the Ambulance Fund will purchase a new ambulance at
a cost of $58,947 and the Ambulance Fund will finance $28,947 from
current reserves, and
WHEREAS, the Ambulance Fund wishes to finance $30,000 over a
period of three years, 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
Sewer Replacement account to the Ambulance Fund to be
repaid over a period of 3 years at an interest rate of
6.4% with interest paid semi --annually.
PASSED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AND APPROVED BY
THE MAYOR THIS _JL-t DAY OF 0c.#o be✓ _, 1995.
ATTEST:
ajloj�_& I koj o rna'.
Debbie Gif MC
Clerk of Council
1
Douglo D. Rauthe, Mayor