RES 56-03 LOAN FROM WATER FUND EESOLUTIOI~
A RESOLUTION authorizi~ a loan from the Water
~ond Redemption .wbmd to the Water Revenue Fund, prov-
iding repayment thereof, end establishing the period
of the loan.
~I{EREAS, Tax Assessment No. 71573 dated May 24, 1956, by the
State of Washington Tax Co~ission in the amount of $632.53 is due and
payable, and
WHEREAS, the items covered, not previously considered taxable,
h~.ve been ruled by the State Tex Commission as subject to the Utility
~IER~&S, provision had not been m~de for payment of this item.
NOW, Th~OP~E, BE IT RESOLVED by the Town Council of the Town
of Winslow, Washington:
That the sum of $500.00 be loaned from the Water Bond Redemption
Fund to the Water Revenue Fund for the specific payment of the Tax Assess-
ment referred to.
That said loan be repaid to the Water Bond Redemption ]~und by
monthly p~yments as rapidly as water revenues will permit.
That the period of the loan shall not extend beyond the next due
date for retirement of a portion of the outstanding water bonds, DAmely,
May l, 1957.
PASSE by unanimous vote of the Council of the Town of Winslow,
Washington, and approved by its Mayor this 17th day of July, 1956.
Attest: