ORD 72-19 SEWER PRE-CONTRACT FUNDORDINANGE NO. 7E - 19
An ordinance establishing a Sewer Pre-~on~ract
Fund and funding it by temporary transfer from
the Current Expense Fund
WHEREAS, the City is considering construction of a new sewer
treatment plant and collecting trunk lines, and
WHEREAS, preliminary engineering plans have been accepted by the
City~ and
W}~EREAS, certain expenditures such as special engineering fees,
site borings for said testing and other minor expenses are necessary
preliminary to funding of the construction project.
NOW, THEREFORE~ BE IT ORDAINED by the Council of the City of
Winslow~ Washington as follows:
That a temporary Fund is created and to be known as the "Sewer
Pre-Contract Fund".
That this Fund shall be activated by transfer of $2500.00 from
the Current Expense Fund.
That said transfer oi' funds is hereby authorized and approved
on a temporary basis to be repaid on sale of bonds anticipated for
functing the sewer construction project.
That said loan shall bear interest at the rate of 3 percent.
ADOPTED by the Council of the City of Winslow~ Washington and
approved by its Mayor this 20th day of November, 197E.
ATTEST
Clerk
~r