HomeMy Public PortalAbout26-2004-26 4 SCANNED
RESOLUTION 2004-26
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FOR THE CITY OF .
GREENCASTLE GENERAL FUND
WHEREAS,the property tax distribution for the 2004(2003 payable 2004)will
not be available until October,2004; and
WHEREAS,the CityGreencastle has obligations to make payment of accounts
payable and payroll; and
WHEREAS,the EDIT Fund has available monies 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 31,2004. No interest will be paid.
PASSED AND RESOLVED by the Common Council of the City of Greencastle
at its 43.eptiarmeeting on this 26th day of July, 2004.
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N COUNCIL OF THE CITY OF GREENCASTLE
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Thomas W.Roach Russell W.Evans
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Robert Sedlack
Approved and signed by me this 26th day of July, 2004, at:55 o'clock p.m.
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Teresa P. Glenn, Clerk-Treasurer
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