1978/12/27 Council Minutes - Laserfiche WebLink

December 27,1978 637 Whereas,each it Fund ,ally solvent, pterestebeearin=warrantsa�n oruired der to comply with the intent of thee�aw,t a proval keeinterfun loansltor issue interesttbeara,;Y:4= , resolvedNow,thelefore,be it that authorization is given to Ctyt City Council of the City of Everett, Treasurer for the fallow g Funds,under the followg terms an c nditions: • loans 1. Loan from: General F und Loan to: Park Amount Authorized:ns$580.Period of Loarx Dec.27,700n Fund Rate of Interest: 8 -June 30,1979 • • Source of Repayment:percent 1979 Property Ta 2. Fund • Loan to:Amount Transit 360,000.00 Period Authorized: LDecember 2 -June 30,1 979 Rate nterest: 8 Percent source of payment. P..a.T.h.Grantor .003 sales Tax 3' General Fund PeLoan t Pe$20,00a 00 riod ]e-June 30,1979 • • Rate of/nterest: 8 Source of payment. Cashnforward additional appropriation • Roll was called with all councilmen voting yes. • Motion Carried RESOLUTION(C07812-47e) Bill CU.:man, a letter to Budget and said tthe banks had been sent ifor ng th • maximum amounts e be m alableandh The bids were asreceived by the Cfollows,ity Treasurer as late as the afternoon o£Decembers26e 1978. 1. Peoples Bank-no 2. ank Pacif • 3. ic National 9.28dond$250,000 only 5. Seattle First 4 National Ea - ,4581 6. Olympic Sank-6. (lowbid) Resolutionox ,1569 as follows econde by councilman pldcroft to pt • • A resolntion authorizing the quir g t p Y g caCitshTr asurer to borrow money for those funds the y ocntr,but t he7pledtef ava,lableecash,oa dly increments, each f red by state financially solvent, law,and interteredest bearit becomes ioborrow cash warrants in order to comply withtheintent of thegi s- ng )