ORD 74-28 LOAN FROM EXPENSE FUND TO PARK DEVELOPMENT FUNDORDINANCE NO. 74-28
AN ORDINANCE AUTHORIZING LOAN OF $8,500.00 FROM CURRENT
EXPENSE FUND TO THE PARK DEVELOPMENT FUND AND THE EX-
PENDITURES THEREOF.
WHEREAS, an additional expenditure of $8,500.00 is antici-
pated to acquire tidelands at the site of Eagle Harbor Park and
WHEREAS, such funds are not readily available in the Park
Development Fund and
WHEREAS, such amount, $8,500.00 will be recovered in Grant
Funds from the IAC,
The City Council of the City of Winslow, Washington do
ordain as follows:
THAT $8,500.00 be transferred as a temporary loan from
Current Expense Fund to Park Development Fund.
THAT said loan is to be repaid from eligible Grant Funds
within 1 year and that said loan bear an interest rate of 3%.
PASSED by the City Council of the City of Winslow, Wash-
ington and approved by its Mayor this 2nd day of December, 1974.
ATTEST:
Norma Sue Frix
Clerk/Treasurer
MAYOR