HomeMy Public PortalAbout18-2008-18 Aor
SCANNED
RESOLUTION 2008 - 18
A RESOLUTION AUTHORIZING A TEMPORARY LOAN FOR THE CITY OF
GREENCASTLE PARK AND RECREATION 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 Park and Recreation Fund has obligations to
make payment of accounts payable and payroll; and
WHEREAS, the Rainy Day 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 $150,000.00 (One hundred fifty thousand
dollars) from Rainy Day funds and place them in the Park and Recreation 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 8th day of July 2008.
CO ON COUNCIL OF CITY OF GREENCASTLE
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ohn Lanie Ma N. Hammer£ Bham Terry S i
Adam Co en
Approved and signed by me this 8th day of July 2008 at a • o'clock p.m.
Susan V. Murray, Mayor
ATTEST:
lib
Teresa P. Glenn, Clerk Treasurer