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RESOLUTION NO.,5-i3 <br /> A RESOLUTION authorizing the City Treasurer to <br /> make interfund loans to Fund 101-Parks, Fund <br /> 110-Library, Fund 120-Streets, Fund 153-Emergency <br /> Medical Service and Fund 637-Police Pension. <br /> WHEREAS, revenues are not remitted to Fund 101-Parks, <br /> Fund 110-Library, Fund 120-Streets, Fund 153-Emergency Medical <br /> Service and Fund 637-Police Pension in even monthly <br /> increments, thereby contributing to the depletion of available <br /> cash; and <br /> WHEREAS, each fund is required by State law to remain <br /> financially solvent, it becomes necessary to borrow cash from <br /> other solvent funds in order to comply with the intent of the <br /> law; and <br /> WHEREAS, it is required of the City Treasurer to obtain <br /> City Council approval to make interfund loans; <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of <br /> the City of Everett, that authorization is given to the City <br /> Treasurer to make interfund loans to the funds herein listed <br /> under the following terms and conditions : <br /> Loans From: General Fund <br /> Period of Loans; 2/28/85 through 4/30/85 <br /> Rate of Interest; No Interest Required <br /> Source of Repayment : Proceeds of 1985 Tax <br /> Anticipation Note <br /> Amount of Loans : As needed to remain solvent . <br /> el. K,-,-i-,,,, <br /> Council Member Introducing Resolution <br /> PASSED AND APPROVED this Lo CA of March, 1985. <br /> lA <br /> A i Atri, _AL... <br /> C'. cil President <br />