HomeMy Public PortalAbout2008-5RESOLUTION 2008 — 5
BOARD OF PUBLIC WORKS AND SAFETY
A RESOLUTION AUTHORIZING AN EXTENSION OF RESOLUTION 2008 -3, A
RESOLUTION AUTHORIZING A TEMPORARY LOAN FOR THE CITY OF
GREENCASTLE GENERAL FUND
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WHEREAS, the final property tax distribution for the 2008 year (2007 payable
2008) will not be available until after January 23, 2009 the due date for final installment
of property taxes and;
WHEREAS, the City of Greencastle has obligations to make payment of
accounts payable and payroll; and
WHEREAS, the Utility Waste Water Operating Fund has available monies to be
borrowed until the property tax distribution is available;
NOW THEREFORE, BE IT RESOLOVED that the City of Greencastle Board of
Public Works and Safety authorizes the extension of Resolution 2008 -3, borrowing
$350,000.00 (Three hundred fifty thousand dollars) from Utility Waste Water Operating
fund. This loan is to be repaid within 30 days of receipt of property tax distribution
payable 2008 with no interest to be paid.
PASSED AND RESOLVED by the City of Greencastle Board of Public Works
and Safety on this 17 day of December 2008.
CITY OF GREENCASTLE BOARD OF PUBLIC WORKS
Susa
n V. Mu Mayor
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'Fhom Morris
Trudy Selvib
ATTEST:
Teresa P. Glenn, Clerk Treasurer
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