Res 1134 - Interdept Borrow 92/
COUNCIL BILL NO. 1408
RESOLUTION NO. 1134
A RESOLUTION AUTHORIZING INTERDEPARTMENTAL BORROWING OF FUNDS
DURING FISCAL YEAR 1992-93.
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 the 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 1992-93, 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, 1993.
Section 3. That the funds returned shall be obtained from property tax
revenues levied for fiscal year 1992-93 within the General, Transit, Library, and Park
and Recreation Funds; and from federal grant revenues within the Federal Programs
Fund. _ ~
Approved as to Form7J~ 4 ~" - 7~' 2 ~ - 1 Z
City Attorney Date
APPROVED 1;,~y~, ~
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Filed in the Office of the Recorder
ATTEST ;1(~f~-
Mary Tenn t, Recorder
City of Woodburn, Oregon
Jul y 27. 1992
July 28, 1992
July 28. 1992
Julv 28. 1992
Page 1 - COUNCIL BILL NO. 1408
RESOLUTION NO. 1134
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