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RESOLUTION-INTERIM FINAN:::01''19'3 <br /> I 189 <br /> `""'"" ' <br /> A RESOLUTION authorizing the City Treasurer <br /> to make interfund loans for interim <br /> financing for Local Improvement District <br /> No.705-Everett Mall Way. <br /> WHEREAS,conStruction costs incurred on.cal Improvement .1 <br /> District MID)projects must be financed on an interim basis until <br /> bond proceeds or other monies are received:a. <br /> WHEREAS,ceikain funds of the City ha.ve money available to loan <br /> to the LID funds on an interbn basis:and <br /> .EREAS,it is required of the City Treasurer to obtain City '1 <br /> Council approval to make interfund loans, <br /> NOW,THEREFORE,BE IT RESOLVED by.e City Council of Everett <br /> that authorization is given to the City Treasures to make interfund <br /> loans for LID 705 under the terms and conditions as stated: lj,) <br /> roan*From: City Sewer or Water Funds d41 <br /> Amount: $200,000 <br /> The amount shown ie an accumulative .'I <br /> total. <br /> Period of Loans: .‘t'llr; :1'.12 IT:nr2:1',',:rgy'tt ZID. , <br /> 1 Rate of Interest: 8.58 <br /> Source of Repayment: Proceeds of bond sales or from any <br /> other monies received in the LID. 1 l'''... <br /> . . <br /> Roll was called with all Councilmen voting yes,except Counoilm. . .').') <br /> Overstreet,who was excused. <br /> Motion Carried <br /> COUNCIL HIlk NO.835-55 <br /> FINAL READING: <br /> :112217qT. ::7.:112!eMell'T.r:x::bs::'iO:"a <br /> Board and Commission members who represent the 1,; <br /> City of Everett on official City business. <br /> :Ztl..2172CIT:d771g'ClT7.170e:::dn'm'gs.C9ToTI'Vo.mle'll:T'Of'bo::::! ... <br /> Roll wee called with all Councilmen voting yes,except Councilman <br /> Overstreet,who was excused. <br /> Amendment Carried <br /> IL - <br />