477 Interfund Sweeper 104 to 101CITY OF YELM
ORDINANCE NO. 477
AN ORDINANCE APPROVING AN INTERFUND TRANSFER BETWEEN THE
CUMULATIVE RESERVE (FUND NO. 104) AND CITY STREETS (FUND
NO. 101) TO FINANCE THE PURCHASE OF A STREET SWEEPER.
WHEREAS, the Yelm City Council has authorized the purchase of a
street sweeper;
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF YELM, STATE OF
WASHINGTON, DOES ORDAIN AS FOLLOWS:
SECTION 1. There is hereby authorized an interfund transfer in
the amount of $ 35,000.00 from Fund 104, Cumulative Reserve, to
Fund 101, City Streets, for the purchase of a street sweeper.
SECTION 2. Repayment of the loan from City Streets to
Cumulative Reserve shall be in the amount of $ 36,067.50 paid by
semi annual payments of $3,606.75 each due in February and August
of each year for a period of five years. Simple interest at a
fixed rate of 3.05$ shall be charged to a total over the five year
period of $1,067.50.
SECTION 3. This Ordinance shall take effect on September 8,
1993, being a date not less than five (5) days after publication.
ADOPTED this 25th day of August , 1993 .
Ka hryn Wolf, May r
ATTEST:
~~ ~~
Agne P. Colombo, City Clerk
PASSED AND APPROVED:
EFFECTIVE: September
PUBLISHED: Nisqually
CITY OF YELM
ORDINANCE N0. 477
August 25, 1993
8, 1993
Valley News, September 2, 1993
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