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RESOLUTION NO. 76-47 <br />A RESOLUTION TRANSFERRING FUNDS FROM THE WATER <br />DEPARTMENT SINKING FUND TO THE STORM SEWER CON- <br />STRUCTION FUND AND PROVIDING FOR REPAYMENT THEREOF. <br />WHEREAS, the Water Department Sinking Fund has a <br />surplus of funds over that required to repay bonded in- <br />debtedness for the Water Department; and <br />WHEREAS, Storm Sewer Project 1975-1 requires $20,000 <br />additional funds to pay for construction costs above available <br />bonded funds; <br />NOW, THEREFORE, BE IT RESOLVED, that $20,000 be transfered <br />from the Water Department Sinking Fund to be deposited in the <br />Storm Sewer Construction Fund for Storm Sewer Project 1975-1, <br />and to be repaid over a period not to exceed three years, at a <br />rate of 6% per annum on the unpaid balance. <br />Adopted and passed this 26th day of July, 1976. <br />ATTEST: <br />CLERK <br />