HomeMy WebLinkAbout710CITY OF KENT, WASHINGTON
RESOLUTION NO. 710
A RESOLUTION of the City Council of
the City of Kent, Washington, authorizing
and directing the City Treasurer to trans-
fer $40,000 from the Garbage Fund to the
Sewer Fund for the purpose of paying sewer
bond interest and redemption and directing
payment of interest to the Garbage Fund.
WHEREAS, the sum of $40,000 has previously been loaned
from the Garbage Fund of the City of Kent to the Sewer Fund of
the City of Kent, and
WHEREAS, it has been determined that the funds loaned
should be permanently transferred to the Sewer Fund, NOW, THERE-
FORE,
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. The City Treasurer be and she hereby is
directed to transfer from the Garbage Fund of the City of Kent
to the Sewer Fund of the City of Kent the sum of $40,000, the
amount previously loaned to the Sewer Fund by the Garbage Fund.
Section 2. The funds transferred shall be applied to
payment of Sewer Bond interest and redemption.
Section 3. The Treasurer shall pay to the Garbage Fund
interest in the amount of 4% per annum on the funds loaned to the
Sewer Fund, said interest to commence the date of the loan and
terminate as of the date of this Resolution.
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PASSED at a regular meeting of the Kent City Council
this 20th day of December, 1971.
t~SABEL HOGAN, MAYO
ATTEST:
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MARIE JENSEN~
DONALD E. MIRK, City Attorney
I hereby certify that this is a true copy of Resolution
No. 710, passed by the City Council of the City of Kent,
Washington, the ~ c}f---~ day of December, 19 71. .
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