HomeMy WebLinkAbout223R F. S 0 L U T I 0 V
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fiH!rtEAS, the City of Kent, a municipal corpoiRtion of the
State of Washington, desires t8 transfer, as a loan, certain
moneys from the Current ExpenRe Fund and from the Bond Interest
and Redemption Fund to the PermAnent ReplAcement Water Fund; and
WHEREAS, said money is to be borrowed from the two first
mentioned funds by the third mentioned fund for tne purpose of
defraying expenses of building~ reservoir in the expansion pro-
gram for the city water sunoly; now, therefore,
B~ IT RESOLVFD by the City Council of the City of Kent in
rerml.:~T meeting-CJssembled thf'lt the City Clerk and City Treasurer
of the City of Kent be authorized, empowered, and instructed, and
they are hereby expressly authorized, empowered, and instructed
to transfer from the Current ~xpenee Fund to the Permanent Re-
placement Water fund the sum of Three Thousand Dollars ($3000.00),
And to trsnsfer from the Bond Interest and ~edemntion Fund to the
said Permanent Reol~cement WAter Fund the sum of Seven Thousand
Dollars ($7000.00).
BE IT FURTHER RESOLV~D that interest shall be paid upon said
loans by the Permanent Reolacement Water Fund to the Current ~x
pense Fund and the Bond Interest and Redemption Fund upon the
moneys so loaned at the rate of _ _j__ __ per cent per annum upon
the unpaid balance of said loan.
AND 9E IT FURTHER RESOLVED that the said City Clerk and City
Treasurer of the City of Kent be authorized, empowered, and in-
structed, and they are hereby expree.sly authorized·:, empowered,
and instructed to transfer b~ck to the Current ~xpense Fund and
the Bond I~terest and Pedemntion Fund from the Permanent Re-
nlacement Water Fund the moneys so borrowed, together with inter-
est thereon, whenever there is s sufficient amount in the said
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Permanent Replacement Water Fund to return the amounts so bor·::..'
rowed.
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PASSED by the City Council of Kent this 21st day of A.,.ugust~-:
(,.
1939.
Mayor
Attest_L c;-~
City Clerk