HomeMy Public PortalAbout17-1996-17 RESOLUTION NO. 1996-17
A RESOLUTION AUTHORIZING A TEMPORARY LOAN BETWEEN
THE CITY OF GREENCASTLE AND THE SEWAGE IMPROVEMENT
FUND
(I.C. 8-1.5-3-12)
WHEREAS, the City of Greencastle has a need to secure a temporary loan in the amount
of Two Hundred Thousand and NO/100 Dollars ($200,000.00); and
WHEREAS, the Sewage Improvement Fund has funds available; and
WHEREAS, collection and distribution of Spring installment of 1995 taxes payable in
1996 has been delayed until September-October; and
WHEREAS, the temporary loan will be repaid within thirty (30) days of receipt of tax
distribution.
NOW THEREFORE BE IT RESOLVED THAT THE CITY OF GREENCASTLE
borrow from the Sewage Improvement Fund the sum of Two Hundred Thousand and NO/100
Dollars ($200,000.00) all subject to the terms set forth in I.C. 8-1.5-3-12 without interest.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
Special meeting this 17 day of ,2 , 1996.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
44,
Thomas W. Roach Barry Bafnard
tj/v J-/ 1
Mark N. Hammer David Masten
Kieth Green
Approved and signed by me this day of I%i4 , 1996 at .0Co'clock 1" .m.
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Nancy ichael, Mayor
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Pamela S. Jones, Clerk-Tres rer u ,s