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<br /> 33.
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<br /> Julp 23, 1960
<br /> !4ayor Moore stated l�c lias asked his Administrative Assistant to research
<br /> �ahether or not the City of, Everett is receivinq more than its share of
<br /> this type of faci:lity in the County.
<br /> Idoved by Cuuncilm�in Pope, secondedUse Yermitluntilaaglisttistavailable
<br /> request for this :�pecial Property
<br /> showing different faciiities and locations in the City of Everett.
<br /> men1Gipsona1Baker,tMichelsonmeAldcroftnanda0verstreet�votingano,c�uncil-
<br /> Dlotion Failed
<br /> Roll was called on the motion to grant the Speci.al Property �E:xcee�mit tc
<br /> Tl�irty Four Oakes Fellowship with all Council�en voting yes,
<br /> P
<br /> Councilmen Pope and Langus, who voted no.
<br /> *totion Carried
<br /> RESOLUTION - (CD BQ7-315) �
<br /> I`f e4oved hy Councilman Gipson, seconded :�.�;� �:ounuilman Pope,� to adopt Reso-
<br /> Ilution No. 1821 as follows :
<br />� A RESCLUTION authori.zing the Ci.ty �'YCd�:LL'_'t'-Y to borrow
<br /> mone� for those Funds requirinct :eapura�ry operating cash.
<br /> S•IHEFtEAS, Revenues are not remit.ted to t}�� ��i_y in even monthly incre-
<br />! ments, thereby contributing to the depletion of availatle cash, and
<br />' WHEREAS, L•'ach Pund is required by State law to remain financially
<br /> solvent, it becomes necessary to bor.ro�a cash from other solvent Funds,
<br /> or issue interest bearin9 warrants, in order to com�ly with the intent
<br /> of the law,
<br />' WHEREAS, it is required of the City Treasurer to obtain City Council
<br />� approval to make interfund loans, or issue interest bearing warrants, ,
<br /> NOW, THGRGFO?2F, SE IT RESOLVED by the City Council of the City of
<br /> I� Everett, that a.uthorizaCion is given to the City Treasurer to issue
<br /> interest bearit�g warrants, for the following Funds under the following
<br /> terms and conc�itions:
<br /> , y Loan From: Fronti.er IIank $ 300, 000. 00 maximum
<br /> ,i.;.' Olympic Rank 1, 140, 000. 00 maximuci
<br /> 1 Period of. Loan: July 2.3, 1980 thru December 31, 1980
<br /> Rate of Interest: OlympicrIInnkk 6 .56�
<br /> Source oE ltepayment: Property 'Pax and Iialf Cent Sales Tax
<br /> . 400, 000
<br /> Loans to & Amount� Larksa& Recaeatien $ 265, 000
<br /> � Tibrary 200 , 000 .
<br /> Street 230 , 000
<br /> Park Construction 175, 000 ,
<br /> Everpark Garage 25,000
<br /> ; Policr-_ Pension 1A5 , 006
<br /> TOT71L $ 1, 440, 000
<br /> IRoll c•tas called witl� ail Councilmen voti.nq yes, except Councilmen Baker
<br /> � and AldcrofC, who abstained from voting.
<br /> � tt��;.ion Carri ��d
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