HomeMy Public PortalAbout44-2003-44 RESOL T SCANNE RESOLUTION 2003-44
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FOR
CITY OF GREENCASTLE GENERAL FUND
WHEREAS, the Property Tax Distribution for 2003 (2002 payable 2003) will not
be available until November or December, 2003; and
WHEREAS, the City of Greencastle has obligations to make payment of accounts
payable and payroll; and
WHEREAS, the EDIT fund has available funds to be borrowed until the Property
Tax Distribution is available;
NOW, THEREFORE, BE IT RESOLVED, that the Greencastle Common Council
authorizes the Clerk-Treasurer to borrow$350,000.00 (Three Hundred Fifty Thousand
Dollars) from EDIT funds and place them in the General Fund to meet monthly
obligations. This loan will be repaid by December 31, 2003. No interest will be paid.
PASSED AND RESOLVED by the Greencastle Common Council at its Special
Session this 18th day of September, 2003.
COMMON COUNCIL OF T ITY OF GREENCASTLE
Thomas Roach Joe Liecht
Mark Hammer ohn A. Lanie
Ro ert P. Se ac
Approved and signed by me this 18th day of September, 2003, at g'00
o'clock p.m. (—
2aite,J,C2. AZet---( c)
Nancy A. Mthael, Mayor
ATT T:
Pamela S. Jones, C elereasurer