RES 56-02 LOAN FROM EXPENSE FUND TO STREET FUND A I~SOLU~ION authoriz~ a loan from the 0urrent
~xpense F~_w~ to the Street FuM, providing repalment
thereof and establishing the period of the loan.
WI~S, expenditures from the Street l~xnd for the year 1955 were
within budget limitations, and
~S, expenditures to date from said fund for the current year
are within the budget limitations, and
WHIRFAS, the cash balance of the Street F~ud is not sufficient to
pay anticipated demands pending receipt of tax funds, and
W~EREAS, this emergency could not reasonably hays been 'foreseen,
~AS, this action is considered to be in the interests of the
people of the Town of Winslow;
NOW, ~REFORE, BE IT P~GOT.VID by the Town Council of the Town of
Winslow, Washington~
That. the earn of $600°00 be loaned from the Current ~xpense l~ud
to the Street Fund.
That said loan be repaid to the Currant lxpense l~xnd as rapidl~ as
possible following receipt of property tax collections.
That the period of the loan shall be until receipt of payment of
the second half of 1956 taxes ~n~ that should the full amount of the loan
not be pa,vable at that time provision therefor shall be rode in the Street
~and of the 1957 Budget.
PASSED by n~-~mous vote of the Council of the Town of Winslow,
Washington, and approved by its Mayor this 17th day of April, 1956.
Attest:
Clerk