HomeMy Public PortalAbout02-2008-2 SCANED
RESOLUTION 2008 - 2
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FOR THE CITY OF
GREENCASTLE GENERAL FUND
WHEREAS, the property tax distribution for the 2008 year (2007 payable 2008)
will not be available until after the regular June distribution; and
WHEREAS, the City of Greencastle has obligations to make payment of
accounts payable and payroll; and
WHEREAS, the EDIT Fund has available monies to be borrowed until the
property tax distribution is available;
NOW THEREFORE, BE IT RESOLOVED that the Greencastle Common Council
authorizes the Clerk-Treasurer to borrow $600,000.00 (Six hundred thousand dollars)
from EDIT funds and place them in the General Fund to meet monthly obligations. This
loan will be repaid upon receipt of property tax distribution payable 2008 with no interest
to be paid.
PASSED AND RESOLVED by the Common Council of the City of Greencastle
on this 13th day of May 2008.
CO ON COUNCIL OF CITY OF GREENCASTLE
1
C e
�
ohn Lame Ma k N. Hammer
Ji sie Bingham Terry J Saiit
Adam Cohen
Approved a d signed by me this 13th day of May 2008 at ' '\,'\ o'clock p.m.
Susan V. Murray, Mayor
ATTEST:
Te a P. Glenn, C rk Treasurer