HomeMy WebLinkAbout4326RESOLUTION NO.4 3 2 6
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 THREE YEAR PERIOD OF TIME
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 EIGHTY THREE THOUSAND
DOLLARS ($83,000) for the purpose of purchasing the carts.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
WASHINGTON, HEREBY RESOLVES AS FOLLOWS:
Section 1. Authorization is hereby given for the transfer of funds to the
golf Course Fund to cover the purchase of 18 electric carts in an amount not to
exceed $83,000.
Section 2. The term of the loan shall be 36 months, payable in annual
installments at the interest rate of 3.5% per annum.
Resolution No. 4326
March 4, 2008
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Section 3. The Mayor is hereby authorized to implement such
administrative procedures as may be necessary to carry out the directions of
this legislation.
Section 4. This resolution shall be in full force and effect upon passage
and signatures hereon.
DATED and SIGNED THIS DAY OF 2008 .
CITY OF AUBURN
PETER B. LEWIS
MAYOR
ATTEST:
Danielle E. Daskam,
City Clerk
APP
D AS TO FORM:
Resolution No. 4326
March 4, 2008
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