RES 55-03 LOAN FROM EXPENSE FUND TO STREET FUND A I~SOLUTION authorizing a loan from the Current lxpense
I~xnd to the Street ]~And, providing repayment thereof and
establishing the period of the lean.
W~n~m~S, by Ordinance No. ~0 the Council declared an emergency
existed necessitating the purchase of a truck te replace the TownIs sole
truck which is beyond economical repair, and
W~AS, bids have been received and other statutory require-
ments provided for to enable the purchase to be made, and
Wm~AS. by opinion of the State Attorney General it is considered
within the power of the Council to use any available Town funds to meet a
declared emergency provided it is done on a temporary basis and there are
assurances that the funds will be repaid~
- NOW, TB~R~, B~ IT RESOLVED by the Town Council of the Town
of Winslow, Washington:
That the sum of $1,000.00 be transferred fr~m the Current Expense
]~tnd to the Street ltaud.
That said loan be used for the specific purpose of purchasing a
used truck for the Town.
That repayment be made as rapidly as possible from receipts
credited to the Street ~ucl.
That any unpaid balance shall be provi&ed for in the budget on
the basis that $~00.00 shall ~ave been repaid by the close of 19~6 and a~
remaining amount repaid by the close of 19~?.
That aothing in this Resolution nhnll preclude the is~,_Ance of
interest bearing warrants on the Street ~ as provided in Ordinance No.
~0 should demands on the Current lxpense ~tnd require repe~vmsnt faster
than provided by this Resolution.
PASSED by unanimous vote of the Council of the Town of Winslow
and approved by its Mayor this 19th day of April, 19~5.
Attest~