HomeMy Public PortalAbout14-2007-14 RESOLUTION NO. 2007-14
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FOR THE
PARK GENERAL FUND
WHEREAS, due to delays in the collection of taxes, the City has not received its Spring
tax distribution for 2007;
WHEREAS, the City of Greencastle Parks Department has obligations to make payment
on accounts payable and payroll; and
WHEREAS, the City has funds available in its Rainy Day Fund which can 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 Rainy Day Fund and place them in the General Fund to
meet monthly obligations. This loan will be repaid by December 31, 2007. No interest will be
014 paid.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
regular meeting this 1() day of 0 , 2007.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
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Thomas W. Roach ussell W. Evans
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Mark N. Hammer ohn Lanie
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obert Sedlac
Approved and signed by me this 0 day o f'c
U , 2007 AVA5o'clockr .m.
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Nancy A. Michael, Mayor
AT'EST:
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Teresa Glenn, Clerk- reasurer