HomeMy Public PortalAbout01-2008-1 SCANMED
RESOLUTION NO. 2008-1
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FROM THE
RAINY DAY FUND TO THE PARK NON-REVERTING CAPITAL FUND
WHEREAS, the City of Greencastle Parks and Recreation Department received a Land
and Water Conservation Act Grant in the amount of$129,342.00 for improvements and additions
to the Big Walnut Community Park; and
WHEREAS, the City expended funds for the improvements to Big Walnut Community
Park, in anticipation of repayment by the Indiana Department of Natural Resources, pursuant to
the grant agreement.
WHEREAS, the Rainy Day Fund has funds available to be borrowed until the city receives
full reimbursement from the Indiana Department of Natural Resources.
NOW THEREFORE BE IT RESOLVED THAT THE CITY OF GREENCASTLE
Common Council authorizes the Clerk-Treasurer to borrow One Hundred Twenty-Nine Thousand
Three Hundred Forty-Two Dollars and no cents ($129,342.00) from the Rainy Day Fund and
place them in the Park Non-Reverting Capital Fund to meet monthly obligations. This loan will be
'•-•\ repaid as soon as reimbursement is received by the Indiana Department of Natural Resources and
no later than December 31, 2008. No interest shall be paid on the amount borrowed.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
regular meeting this /a day of kW 2LLt' 2008.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
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;'lhn Lanie Terry mith
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Mark N. Hammer Adam Cohen
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Virgir4fa S. Bingham '-
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d b me this i 2 day o , 2008 at7. V
Approved and si�nc y41111110
Sue Murray, Mayor
ATTEST:
eresa Glenn, C erk- reasurer
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