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RESOLUTION NO. 3385 <br /> A RESOLUTION authorizing the City Treasurer to <br /> make an interfund loan to Fund 505 - Computer <br /> Reserve for financing the purchase of computer <br /> equipment . <br /> WHEREAS , the Parks Department has received <br /> authorization to purchase a computer through Fund 505 - <br /> Computer Reserve at a cost of $43, 000; and <br /> WHEREAS, funding sources totaling $20 , 000 have been <br /> identified but neither the Parks Department nor Fund 505 <br /> have the balance of $23 , 000 available at this time ; and <br /> WHEREAS, Fund 134 - Golf Operating Reserve has <br /> monies available to loan to Fund 505 to be used for <br /> purchase of the computer for the Parks Department ; and <br /> WHWEREAS, the Parks Department will be responsible <br /> for providing monies over a two year period to repay the <br /> interfund loan , <br /> WHEREAS, it is required of the City Treasurer to <br /> obtain City Council approval to make interfund loans ; <br /> NOW , THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL <br /> OF THE CITY OF EVERETT that authorization is given to the <br /> City Treasurer to make an interfund loan under the <br /> following terms and conditions : <br /> Loan From Fund 134-Golf Operating Reserve <br /> Loan To : Fund 505 - Computer Reserve <br /> Amount Authorized : $23, 000. 00 <br /> Period of Loan : 10/17/90 to 10/17/92 <br /> Rate of Interest : 8 . 00% <br /> Repayment Source : Parks Operating Budget <br /> Coun it Membe ntroducing Resolution <br /> PASSED AND APPROVED this /7' day of 0 ober, 1990. <br /> Council President <br /> WDTRSBLV #1 , pg 3 <br />