HomeMy Public PortalAbout04-2005-4 City of Greencastle `,,,ice,,
City Hall 1
One North Locust Street, P.O. Box 607 g %}
Greencastle, Indiana 46135 .400'
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765-653-3100
SCANNED
RESOLUTION 2005-4
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
GREENCASTLE AUTHORIZING A TEMPORARY LOAN FOR THE CITY OF
GREENCASTLE GENERAL FUND FROM THE EDIT FUND
WHEREAS, the 2004 fall property tax distribution received December 31, 2004
reflected a shortfall; and
WHEREAS, the City of Greencastle has obligations to make debt service
payments, account payable payments 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, the Greencastle Common Council
authorizes the Clerk-Treasurer to borrow $300,000 (Three hundred Thousand Dollars)
from the EDIT Fund and place in the General Fund to meet monthly obligations. This
loan shall be repaid by December 31, 2005. No interest will be paid.
PASSED AND RESOLVED by the Common Council of the City of Greencastle
at the Special Meeting this 31st day of March, 2005.
COMMON COUNCIL OF THE CITY OF GREENCASTLE
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Thomas W. Roach Rus W. Evans
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Robert P. Sedlack
Approved and signed by me this 31st day of Mar 005, at 7 7 o'clock p.m.
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Nancy A. 'chael, Mayor --�
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Teresa P. Glenn, Clerk-Treasurer