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RESOLUTION 2008 — 6
BOARD OF PUBLIC WORKS AND SAFETY
A RESOLUTION AUTHORIZING AN EXTENSION OF RESOLUTION 20084,
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FOR THE CITY OF
GREENCASTLE GENERAL FUND
WHEREAS, the 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 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 -4, borrowing
$350,000.00 (Three hundred fifty thousand dollars) from Utility Water Operating fund
and place them in the General Fund to meet monthly obligations. 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
Susan V. Murray, Mayor
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Trudy Selvi
Thbm Morris
ATTEST:
Teresa P. G n. Clerk Treasurer
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