487 Loan Fund 001 to 401CITY OF YELM
ORDINANCE N0. 487
AN ORDINANCE APPROVING A LOAN FROM CURRENT FUND (001) TO
WATER DEPARTMENT (FUND N0. 401) TO BALANCE FUND 401.
WHEREAS, the Yelm City Council has authorized a loan to the Water
Fund to balance fund for 1994;
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF YELM, STATE OF
WASHINGTON, DOES ORDAIN AS FOLLOWS:
SECTION 1. There is hereby authorized a loan in the amount of
$15,000.00 from the Current Fund (001) to Water Department (401).
SECTION 2. Repayment of the loan from Water Department to
Current Fund shall be in the amount of $15,457.50. Semi-annual
payments of $2,576.25 each, including interest, are due in
February and August of each year for a period of three years.
Simple interest at a fixed rate of 3.05$, in the total amount of
$457.50, shall be charged and repaid over the three year period.
SECTION 3. This Ordinance shall take effect immediately upon
approval of the Yelm City Council.
ADOPTED this 22nd day of December, 1993 .
Ka hryn M. Wo f, Ma r
ATTEST:
Agn s P. Colombo, City Clerk
PASSED AND APPROVED: December 22, 1993
EFFECTIVE: December 22, 1993
PUBLISHED: Nisqually Valley News, December 30, 1993
CITY OF YELM
ORDINANCE N0. 487 PAGE 1 OF 1