Res 1199 - Interdept Borrow 93/
.,
COUNCil Bill NO. 1496
RESOLUTION NO. 1199
A RESOLUTION AUTHORIZING INTERDEPARTMENTAL BORROWING OF FUNDS
DURING FISCAL YEAR 1993-94.
WHEREAS, expenditures within the General Fund, Transit Fund, Library Fund,
Park and Recreation Fund, and Federal Programs Fund may exceed revenues received
at the time of expenditures, therefore, interdepartmental loans are necessary to
comply with local Budget law. Oregon Revised Statutes 284.460 allows this type
of loan; NOW, THEREFORE,
THE CITY OF WOODBURN RESOLVES AS FOllOWS:
Section 1. During fiscal year 1993-94, funds not to exceed $850,000 be
loaned to the General, Transit, Library, Park and Recreation, and Federal Programs
Funds from City Hall Construction, Library Endowment, General Operating Reserve,
Wastewater Equipment/Replacement Reserve, Water Equipment/Replacement Reserve,
Street Capital Improvement, Water Capital Improvement, Wastewater Capital
Improvement, Water, and Wastewater Funds.
Section 2. That said loans be returned to the respective funds listed in Section
1 of this Resolution no later than June 30, 1994.
Section 3. That the funds returned shall be obtained from property tax
revenues levied for fiscal year 1993-94 within the General, Transit, Library, and Park
and Recreation Funds; and from federal grant revenues within the Federal Programs
Fund. en / /
Approved as to form: ~ ~~ ~ " if 13
City Attorney /~Date I J ~
APPROVED: l~ ~
le Kelley, Mayor
September 13, 1993
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Filed in the Office of the Recorder
ATTEST: iYl i>A-~ --r.; ~ "'+-
Mary Ten ant, City Recorder
City of Woodburn, Oregon
September 14, 1993
September 14, 1993
September 14, 1993
Page 1 -
COUNCil Bill NO. 1496
RESOLUTION NO. 1199
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