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601 UDAG Loan to SEWER CITY OF YELM ORDINANCE N0.601 An ordinance approving a $50,420.00 loan from the UDAG Fund (198) to the Sewer Fund (412) to pay debt service costs and allow stabilization of the funds cash flow. WHEREAS, expenditures for supplies and services, and planning and development have exceeded year to date projections; and WHEREAS, a three year loan should allow the Sewer Fund (412) an opportunity to evaluate fund activity, improve cash flow, establish a payment schedule, and repay this loan; NOW, THEREFORE, the City Council of the City of Yelm, Washington, does ordain as follows: SECTION 1. There is hereby authorized a loan in the amount of $50,420.00 from the UDAG Fund (198) to the Sewer Fund (412). Interest on the loan will be at 3%. SECTION 2 Payments will commence in July of 1997 and continue for a three year period from that time as established in the payment schedule included as Attachment A to this ordinance. SECTION 3. This ordinance shall become effective five days following publication. ADOPTED this 25th day of June , 1997 . Ka .Wolf, ayor Attest: X11 N ~ C Agne . Bennick, City Clerk PASSED and APPROVED: June 25, 1997 EFFECTIVE: July 9, 1997 PUBLISHED: Nisqually Valley News, July 3, 1997 FROM: UDAG #198 CITY OF YELM ATTACHMENT A TO: SEWER #412 INTERFUND LOAN ORD. 601 Ord 601 6125197 _ _ Loan Amt. $50,420.00 - - r---- - _ - - - Efct. Date' 7/9/97 ~ Int. Rate 3% _ - - - - _ - - - } - t- _ _ Pa ment # fiPa_ ment-Dat~ Principal Interest Total Principal _ Payment Payment Balance Payment _ _ . ~ 1,400.00 49,020.00 - 1 _ 7/30/97 - 1-'400- 00 ' 2 870.60 47 620 00 2 8/30/97 1 400 00 1,470.60_. , - 3 'I 9/30/97 1,400.00 __1,428.60 , 2,828.60 ~ 46,220 00 _ _ - 4 10/30/97 1,400.00 ~ 1,38_ _6._60 ~ 2,786.60 } 44,820 00 - 5 ~ 11 /30/97 ,400.00 2,744.60 ' 43,420 00 1,344.60 2,702.60 42,020.00 1,302.60 6 12/30/97 400.00 1, _ 7 _ 1 /30_!98 ~ 1,400.00 1,260.60 , 2,660 60 40,620.00 - - -1,400.00 I 1,21_8.60 + 2,618 60.1- 39,220.00. 8 2/28/98 ~ _ - ~ _ - _ 9 ~ 3/30/98 1 400.00 1 176.60 I 2,576 60 - 37,820.00 - 10 4/30/98 1, ~ _ _ 36,420.00 - 400.00 , 1,134.60 ~ 2,534.60 ; 11 5/30/98 1,400.00 1,092.60 2,492.60 - ~ - ~ 35,020.00 12 6/30/98 ~ 1 400.00 ~ 1,050.60 2,450.60 ; 33,620.00 13 7/30/98 1,400.00 1,008.60 2,408.60 _ 32,220.00 14 8/30/98 1,400.00 966.60 2,366.60 30,820.00 15 9/30/98 1,400.00 _ 924.60 2,324.60 _ - 29,420.00 - _ _ - 16 _10/30/98 ~ 1,400.00 882.60 2,282.60 28,020.00 17 11 /30/98 ~ 1,400.00 a 840.60 ~ 2,240 60 _ 26,620 00 - - - - - 18 ~ 12/30/98 l ..1,400.00 - - 798.60 ~ - 2,198 60 ~ 25,220 00 19 1 /30/99 1,400.00 756.60 2,156 60 , 23, 820.00 - - ~ . _ Y - 20 2/28/99 1400.00 714.60 211_4 - 2,072.60 ~ 22,420.00 21 - 3/30/99 1,400.00 672.60 ~ - _ , _ . _ - ~ - - - 21 020 00 22 4/30/99 1,400.00_- _ 630.60 2,030 60 ~ 19 620.00 _ - - 23 __.5/30/99 ~ 1,400.00 ! 588.60 ~ 1,988.60 18,220 00 24 6/30/99 1,400.00_ 546.60 ~ - _ 1,946 60 _16,820.00 - - - _ 25 _ 7/30/90 _1,400.00 ~ - 504.60 } 1,904 60 15,420.00 26 8/30/99 1,400.00 462.60 + _ 1,862 60 .14,020.00 27 ~ 9/30/99 1,400.00 ~ 420.60 - - 1,820.60 ' 12,620.00 28 ! 10/30/99 1,400.00_ 378.60 1,778.60 _ 11,220.00 29 11 /30/99 1,400.00 336.60 1,736.60 9,820.00 30 _ 12/30/99 1,400.00 294.60 1 694.60 ~ _ _ 8,420.00. - 31 1 /30/00 1,400.00 252 60 1,652.60 7,020.00 32 ' 2/28/00 1,400.00 I 210.60 1,610.60 5,620.00 _ _ 33 3/30/00 ~ 1,400.00 168.60 1,568.60 4,220.00 34 4/30/00 1,400.00 126.60 ~ 1,526.60 _ 2,820.00 35 5/30/00... 1,400.00 - - . - - 84_.60 1,484.60 1,420.00 _ - 42.60 1,462.60 - 36 6/30/00 1,420.00 _ - - _ _ - - _ TOTAL { ~ 50,420.00 26,481.00 76,901.00 t ATTACHMENT A ORD601.XLS Page 1