787 Add Approp and Dist. of MoniesCITY OF YELM
ORDINANCE NO. 787
AN ORDINANCE of the City of Yelm amending the 2003 City of
Yelm Budget, adopted by Ordinance No. 772 (12/02), by adding
appropriations for interfund transfer and distribution of monies
between Funds 204, 99 Sewer Revenue Bond Reserve, and 415,
State Revolving Loan (SRL3118) Payment and Reserve and
declaring an effective date.
WHEREAS, Council approved Resolution 434, authorizing the City
of Yelm to receive a Department of Ecology State Revolving Loan to
refinance Sewer Revenue Bonds issued in 1994; and
WHEREAS, the SRL agreement requires an independent fund to
account for loan repayments and reserve amounts;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF YELM,
WASHINGTON DO ORDAIN AS FOLLOWS:
Section 1. The 2003 City of Yelm Budget shall be amended by creation of
appropriations in Funds 204 and 415 as follows:
Approving appropriations for transfer of accumulated 1994
Revenue Bond Reserves of $104,118 in Fund 204 to Fund 415 and
Approving appropriations for distribution of said reserves in Fund
415 as follows:
Principal Payment Appropriation $40,000; Interest Payment
Appropriation $13,000; Reserve Appropriation $51,000
Section 2. Ratify and Confirmation Clause -Any action taken pursuant to this
ordinance but prior to the effective date is hereby ratified and
confirmed.
PASSEC~ anb signed in authentication on this 11th day of September, 2003
Adary~ Rives, Mayor
M
l
Authenticated: ~ ' ' ~ ~~ }~ ~ `
. ~t,
gnes P. Bennick, City Clerk
Effective: September 24, 2003
Published: September 19, 2003
City of Yelm Ordinance No. 787 Page 1 of 1
ab\legal\2003