HomeMy WebLinkAbout1976.07.26 RESO 1976-47RESOLUTION NO. 76-47
A RESOLUTION TRANSFERRING FUNDS FROM THE WATER
DEPARTMENT SINKING FUND TO THE STORM SEWER CON-
STRUCTION FUND AND PROVIDING FOR REPAYMENT THEREOF.
WHEREAS, the Water Department Sinking Fund has a
surplus of funds over that required to repay bonded in-
debtedness for the Water Department; and
WHEREAS, Storm Sewer Project 1975-1 requires $20,000
additional funds to pay for construction costs above available
bonded funds;
NOW, THEREFORE, BE IT RESOLVED, that $20,000 be transfered
from the Water Department Sinking Fund to be deposited in the
Storm Sewer Construction Fund for Storm Sewer Project 1975-1,
and to be repaid over a period not to exceed three years, at a
rate of 6% per annum on the unpaid balance.
Adopted and passed this 26th day of July, 1976.
ATTEST:
CLERK