ORD 81-08 LOAN FROM UTILITY FUND TO SEWER FUNDORDINANCE NO. 81 -d~
AN ORDINANCE AUTHORIZING LOAN OF $29,605.00 FROM
THE UTILITY FUND TO THE SEWER CONSTRUCTION FUND
AND THE EXPENDITURES THEREOF AND A~ENDING THE
1981 BUDGET.
WHEREAS, monies expended from the Sewer Construction Fund
have exceeded the revenue and;
~'~EREAS, costs of the Sewer Construction Project will be
funded by Environmental Protection Agency Grant;
NOW THEREFORE, the City Council of the City of Winslow,
Washington do ordain as follows:
That $29,605.00 will be transferred as a temporary loan
from the Utility Fund to the Sewer Construction Fund;
THAT said loan is to be repaid from anticipated grant funds
and shall bear interest at a rate of 7% per annum.
ADOPTED by the Council of the City of Winslow, Washington this
25th day of February, 1981.
A~ ~a~
Mayor
ATTEST:
Clerk/Treasurer
APPROVED as to form:
Robert W. McKisson
City Attorney
this ' ~ ~ day of ~Z/~-, ~//~'/ at the Ferry erminal,
Ch [r o~ Commerce tfty HaiI~.TM Effective ~/4~. ~/
S E A L