HomeMy Public PortalAbout29-2004-29 RESOLUTION NO. 2004- 2 9 SCANNED
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FROM THE
RAINY DAY FUND TO THE CITY OF GREENCASTLE GENERAL FUND
WHEREAS, the property tax distribution for 2004 (2003 payable 2004) will not be
available to the City until late October or November 2004;
WHEREAS, the City of Greencastle has obligations to make payment on accounts payable
and payroll; and
WHEREAS, the Rainy Day Fund has funds available to be borrowed until the Property Tax
Distribution is received by the City.
NOW THEREFORE BE IT RESOLVED THAT THE CITY OF GREENCASTLE
Common Council authorizes the Clerk-Treasurer to borrow One Hundred Ninety Thousand
Dollars and no cents ($190,000) from the Rainy Day Fund 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
regular meeting this day of o,St pt. , 2004.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
Thomas W. Roach Russ W. Evans
/04,/
Hammer John Lanie
R bert Sedlack
Approved and signed by me this day of j),/f ,-}�1t?t004 at(p•/ 'cloc .m.
Nancy A. ichael, Mayor
ATTEST:
Teresa Glenn, Cler -Treasurer