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423 <br /> • <br /> November 3,1982 . <br /> ) <br /> cHANGE ORDER-(CB 8211-464) I <br /> . . <br /> Moved by Councilman Overstreet,seconded by Councilman StePhanson,to 1 <br /> ' apprOye Change Order#1 on the Lowell Park addition to Frontier Land- <br /> scaPing,Inc.in the amount of 42,201.42 500 3010000100 042 0:0045 <br /> court and to provide more parking. , <br /> • , <br /> Roll was called with all Councilmen voting yea. ' <br /> • <br /> Motion Carried , <br /> MSOLUTION-SHORN-NE.1 FINANCING-ICE 8211-465) <br /> :1T:lo:Yt 1c=ntrg,It,710°:1;:22:d"""cil—""—"t• • <br /> A RESOLUTION authorizing the City Treasurer to 1 <br /> borrow money for those Funds requiring teMPors. I <br /> operating cash. , <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 /> IMEREAS,Each Fund is required by State 148 00 rernain financially • 1- <br /> solvent,it becomes necessary to borrow cash from other solvent Funds, 1 , <br /> or issue interest bearing warrants,in order to comply with N.intent , <br /> of the law. 1 <br /> Coluln.7„S;otatliZoTITilt:rffut"A Za'n's','Or=et7.ncre'r=aatling <br /> NOW,TRER.ORE,BE IT RESOLVED by the City Council of the City of I <br /> Everett that authorization is given to the City Treasurer to make , <br /> interfund loans,or issue interest bearing warrNts,fOr Ne followNg , <br /> Funds under the following terms and conditions: . <br /> 4000 30041 City of Everett Sewer or Water Bond I <br /> reserve funds,or City of Everett 1 <br /> L.I.D.guar..fund:er Rt a <br /> . reasonable rate of interst with 1 <br /> local baNs. <br /> • Period of Loan: Is,Z#BY l,1982 through December 31., , <br /> Rate of Intereat: 6.50%or as negotiated with local . , <br /> bNks . <br /> : source of RepaYment: Property Tax. <br /> 30800 00,and amount: General Fund 4 1,500,000 <br /> Parks 920,000 <br /> Library 700,000 1 <br /> Street 870,000 , <br /> his Police Pension 550,000 • . <br /> the <br /> the Intesfund loans pay.le in Nch fund <br /> will at no time exceed 90%of the un- ( <br /> collected property L.for such fund. <br /> This resolution supercedes Resolution No.2039.. <br /> Roll was called with all Councilmen voting Yea. . <br /> Motion Carried 1 <br /> . • <br /> . . <br />