HomeMy WebLinkAboutCC RES 65-015 AUTHORIZATION OF AN INTER-FUND LOAN Meeting Sheet
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Box: 34
Folder: CC RES 1965
Document: CC RES 65-015 AUTHORIZATION OF AN INTER-FUND LOAN
• RESOLUTION NO. 65-015
RESOLUTION AUTHORIZING INTER-FUND LOAN FOR THE PURPOSE OF
FINANCING VILLAGE EQUIPMENT PURCHASES
WHEREAS, the Village has made purchases of maintenance
equipment on conditional sales contracts and chattel mortgages,
and
WHEREAS, it is in the best interest of the Village to pay
these conditional sales contracts and chattel mortgages to avoid
paying unnecessary interest charges, and
WHEREAS, there are surplus funds in Fund 65 Sinking Fund,
NOW THEREFORE BE IT RESOLVED that the Village Council of
the Village of St. Anthony hereby authorizes the Village Manager
to make an inter-fund loan at no interest costs up to `w ��`%s +�
from Fund 65 for the purpose of consolidating sales
contracts mentioned herein and approves the following loan
retirement schedule :
Payable December 31 , 1965 ; 12,995.00
Payable December 31, 1966 x, ,33 .4'9
Payable December 31, 1967
Payable December 31 , 1968 2, 33.48
BE IT FURTHER RESOLVED that `u on purchase of a compressor
and motor grader, the Manager be au horized to transfer from
Fund 65 on a temporary loan basis , amounts sufficient to pay
for these purchases with the payments to Fund 65 to be spread
in 3 equal payments , the first payable December 31, 1966 and
the last December 31, 1968; the amount required to be paid from
the General Fund.
Adopted this 9th day of February, 1965.
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