ORD 89-47 LID 13To Be Considered:
10-19-89
ORDINANCE NO. 89-47
AN ORDINANCE OF THE CITY OF WINSLOW, WASHINGTON,
AUTHORIZING LOANS FROM THE UTILITY FUND TO THE
CURRENT EXPENSE FUND FOR PAYMENT OF PRELIMINARY
ENGINEERING AND OTHER COSTS RELATED TO THE PROPOSED
LOCAL IMPROVEMENT DISTRICT NO. 13, IN THEAMOUNTOF $45,000.
WHEREAS, the Current Expense Fund is in need of
additional monies to fund temporarily the preliminary
engineering and other costs related to the proposed Local
Improvement District No. 13; and
WHEREAS, the City expects that the funds loaned will
be repaid from anticipated revenues from the sale of Local
Improvement District Bonds or general levy tax dollars.
THE MAYOR AND CITY COUNCIL OF THE CITY OF WINSLOW,
WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. A loan in an amount not to exceed
$45,000, is hereb'y authorized from the Utility Fund to the
Current Expense Fund. The loan shall be repaid as funds
become available. Interest shall be at the rate of 6.50% per
Section 2. This ordinance or a summary thereof
consisting of th~ title shall be published in the official
newspaper of the city and shall take effect and be in full
force five (5) days after the date of publication.
~IT~AWR~
ALICE B.
ATTEST/AUTHENTICATE:
:' ,.. l
APPROVED AS TO FORM:
ROBERT 0.~CONOLEY, City Attorney
FILED WITH CITY CLERK: October 11, 1989
PASSED BY THE CITY. COUNCIL: ~?-/~ -
PUBLICATION DATE: /~"
EFFECTIVE DATE: /~
ORDINANCE NO. 89-47
To Be Considered:
10-19-89
ORDINANCE NO. 89-47
AN ORDINANCE OF THE CITY OF WINSLOW, WASHINGTON,
AUTHORIZING LOANS FROM THE UTILITY FUND TO THE
CURRENT EXPENSE FUND FOR PAYMENT OF PRELIMINARY
ENGINEERING AND OTHER COSTS RELATED TO THE PROPOSED
LOCAL IMPROVEMENT DISTRICT NO. 13, IN ~%~E~vDUNTOF $45,000.
WHEREAS, the Current Expense Fund is in need of
additional monies to fund temporarily the preliminary
engineering and other costs related to the proposed Local
Improvement District No. 13; and
WHEREAS, the City expects that the funds loaned will
be repaid from anticipated revenues from the sale of Local
Improvement District Bonds or general levy tax dollars.
THE MAYOR AN]D CITY COUNCIL OF THE CITY OF WINSLOW,
WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. A loan in an amount not to exceed
$45,000, is hereby authorized from the Utility Fund to the
Current Expense Fund. The loan shall be repaid as funds
become available. Interest shall be at the rate of 6.50% per
aIlrlllrn.
Section 2. This ordinance or a summary thereof
consisting of the title shall be published in the official
newspaper of the city and shall take effect and be in full
force five (5) days after the date of publication.
';- T~AWR~/
ALICE B. M
ATTEST/AUTHENTICATE:
APPROVED AS TO FORM:
~OOBERT O. CONOLEY, City Attorney 7
FILED WITH CITY CLERK: October 11, 1989
PASSED BY THE CITY. COUNCIL:
PUBLICATION DATE: /~--
EFFECTIVE DATE: /e-
ORDINANCE NO. 89-47