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147 <br /> April 11,1474 <br /> RESOLUTION-(CB 794-148) <br /> Moved by Councilman Michelson,seconded by Councilman Baker,to <br /> adopt Resolution No.1623 as follows: <br /> WHEREAS,Revenues are not remitted to the City In even monthly <br /> increments,thereby contributing to the depletion of available cash, <br /> and <br /> WHEREAS,Each Fund is required by State law to remain financially <br /> solvent,it Legumes necessary to borrow cash from other solvent Funds, <br /> or issue interest bearing warrants in order to comply with the intent <br /> of the law, <br /> WHEREAS,it is required of the City Treasurer to obtain City <br /> CAvniil aPProval to make interfund loans,or issue interest tearing <br /> vArrAutv: <br /> NOW,THEREFORE,BE IT RESOLVED by the City Council of the City <br /> of Everett,that authorization is given to the City Treasurer to make <br /> interfund loans for the following Funds under the following terms <br /> and conditions: <br /> LOAN FROM: L.I.D.Guaranty Fund <br /> LOAN TO: Parks 6 Recreation Fund <br /> AMOUNT AUTHORIZED: $60,000.00 <br /> PERIOD OF LOAN: April 1,79 through June 1874 <br /> RATE OF INTEREST: 6.50 percent <br /> SOURCE OF REPAYMENT: Property Tax+Other Revenues <br /> t")!. <br /> Roll was called wi.all councilmen voting Yes,eXcePt Counei)wan <br /> Gipson,who was excused,and Councilman Overstreet,who had stepped out <br /> of the room. <br /> Motion Carried 41;114' <br /> RESOLUTION(CR 764-150) )1,• <br /> Moved by Councilman Langus,seconded by Councilman Overstreet,tO adopt <br /> Resolution No.1624 as follows: <br /> INSEREAS,Section 4-D,Chapter 46.14.305,Ordinance 453•VI provides <br /> , . <br /> City Council the authority to regulate parking:and <br /> WHEREAS,Council restricted CBD retail cote parking to a 1 hour <br /> limit at the February 28,1979,meeting and requested review of Rucker <br /> Avenue,and <br /> WHEREAS,a meeting held with the Rucker merchants and a 1 hour <br /> Parbing poll showed twelve of seventeen merchants in favor of 1 hour <br /> Parking: <br /> wHEREAS,TAC has reviewed the proposed Perking and recs.:di'.a <br /> hour limit, <br /> NOW,TDEREFDRE,BE/T RESDIXED THAT both sides of Rucker Avenue <br /> from California to Pacific be restricted to a one hour limit <br /> from 8 AM to 5 PM on Monday through Saturday. <br /> Roll was called with all councilman voting yes,except Councilman <br /> 61,0n,who was excused. <br /> Motion Carried <br />