HomeMy Public PortalAbout47-2003-47 SCANNED
"•••••, RESOLUTION 2003-47
A RESOLUTION AUTHORIZING TEMPORARY LOANS FOR
THE CITY OF GREENCASTLE, PUTNAM COUNTY,INDIANA
AND AN EXTENSION FOR TIME OF REPAYMENT OF THE
TEMPORARY LOANS
WHEREAS, the Property Tax Distributions for 2003 will not be available until
January 2004; and
WHEREAS, the City of Greencastle has obligations to make debt service
payments, account payable payments and payroll; and
WHEREAS, the Cumulative Capital Improvement Fund (Cigarette Tax) Erind
available funds to be borrowed until the Property Tax Distribution is available;
WHEREAS,the following funds are in need of temporary transfers:
General Obligation Bonds $20,500.00
Park Bonds $80,000.00
Cemetery $40,000.00
WHEREAS, The Greencastle Common Council approves the above temporary
loans and declares an emergency due to property tax distribution in Putnam County being
delayed until January 2004.
NOW THEREFORE BE IT RESOLVED, the Greencastle Common Council
authorizes the temporary loans and extends repayment of the above temporary loans until
June 30, 2004.
PASSED AND RESOLVED by the Common Council of the City of Greencastle
at its Regular Meeting this 12th day of November, 2003.
COMMON COUNCIL OF THE CITY OF GREENCASTLE
Thomas oach chty
_\ a
C
Ma k Hammer ohn Lanie
Robert Sedlack
Approved and signed by me this 12th of November, 03, at " 3 o'clock p.m.
Nancy A. i hael, Mayor
ATT S :
,,..� Pamela S. Jones, Cler -T e urer