HomeMy Public PortalAbout30-2004-30 TIED RESOLUTION NO. 2004-3 C
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A RESOLUTION AUTHORIZING A TEMPORARY LOAN FROM THE
RIVERBOAT REVENUE 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 Riverboat Revenue 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 Twenty Thousand
Dollars and no cents ($120,000) from the Riverboat Revenue 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 the Co on Council of the City of Greencastle at its
regular meeting this ' day of , 2004.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
Thomas W. Roach Russell . Evans
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Approved and signed by me this 02 day of 6:p Ir../10 2004 at(p, oo'clockp .m.
Nancy A. chael, Mayor
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Teresa Glenn, Clerk-Treasurer