HomeMy WebLinkAbout4205RESOLUTION N0.4 2 0 5
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AUBURN, WASHINGTON, AUTHORIZING THE TRANSFER OF
FUNDS FOR THE PURPOSE OF MAKING A LOAN OR LOANS
FROM THE CAPITAL PROJECTS FUND TO THE GOLF COURSE
FUND FOR UP TO A FOUR-YEAR PERIOD OF TIME,
REPEALING RESOLUTION NO. 4142 INSOFAR AS IT IS
INCONSISTENT HEREWITH
WHEREAS, the Golf Course no longer has a concessionaire on site
providing for the rental of golf carts; and
WHEREAS, the golf course is in need of golf carts for use by the
patrons; and
WHEREAS, there is insufficient funds available at this time in the Golf
Course Fund to cover the cost of the carts; and
WHEREAS, the Capital Projects Fund has sufficient funds from which to
transfer funds in an amount not to exceed ONE HUNDRED FIFTY THOUSAND
DOLLARS ($150,000) for the purpose of purchasing the carts; and
WHEREAS, in lieu of entering into a lease financing agreement and
incurring costs associated with that type of agreement; and
WHEREAS, the City Council previously passed its Resolution No 4142
providing for Golf Cart funds in a way not fully consistent with the intentions and
purposes hereof; and
WHEREAS, it is appropriate with the passage of this Resolution, that it
be specified that this Resolution controls and that Resolution No 4142, insofar
as it is inconsistent herewith, should be repealed.
Resolution No. 4205
June 8, 2007
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. Authorization is hereby given for the transfer of funds to the
Golf Course Fund to cover the purchase of 36 electric carts in an amount not to
exceed $150,000, repealing Resolution No 4142 insofar as it is inconsistent
herewith.
Section 2. The term of the loan shall be 48 months, payable in annual
installments at the interest rate of 3.5% per annum.
Section 3. The Mayor is hereby authorized to implement such
administrative procedures as may be necessary to carry out the directions of
this legislation.
~"
DATED and SIGNED this ~~ day of ~~~ .2007.
PETER B. LEWIS
MAYOR
ATTEST:
Da 'Ile Daskam
City Clerk
TO FORM:
tYaniel B.y-leid
City Attorney
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Resolution No. 4205
June 8, 2007
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