CC RES 65-045 PROVIDING FOR A THREE YEAR INTER-FUND LOAN FROM FUND 65 FOR PURCHASE OF MUNICIPAL EQUIPMENT IN THE AMOUNT OF $22,310

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} Agenda Item 6d 2) RESOLUTION NO. PROVIDING FOR A THREE YEAR INTER-FUND LOAN FROM FUND 65 FOR PURCHASE OF MUNICIPAL EQUIPMENT IN THE AMOUNT OF $22,310 WHEREAS by Resolution No. 65-015, dated February 9, 1965, the Village Council authorized an inter-fund loan in the amount of $21 ,611 .00 from Fund 65 to consolidate sales contracts for municipal equipment and established an amortization schedule therefore; and WHEREAS Resolution No. 65-015 authorized the Manager to transfer from Fund 65 amounts sufficient to purchase a compressor and motor grader; the amount to be spread over three equal payments, the first payable December 31 , 1966 and the last December 31, 1968; and WHEREAS bids have been taken and awards made for the aforesaid compressor and motor grader in amounts totalling $22,310; NOW THEREFORE BE IT RESOLVED that the following retirement schedule be established to repay Fund 65 for the temporary loan for a compressor and a motor grader: Payable December 31 , 1966 $7,437.00 Payable December 31, 1967 $7,437.00 Payable December 31 , 1968 $7,436.00 • said amounts to be paid from the General Fund. Adopted this 11th day of May, 1965. e ay r ATTEST: Clerk • Manage