Res 1022 - Interdept Borr 90/91
COUNCIL BILL NO. 1254
RESOLUTION NO. 1022
A RESOLUTION AUTHORIZING INTERDEPARTMENTAL BORROWING OF FUNDS DURING
FISCAL YEAR 1990-91.
WHEREAS, expenditures within the Wastewater Treatment Plant Operations
Fund will exceed revenues received at the time of expenditures, therefore, an
interdepartmental loan is 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 1990-91, funds not to exceed $100,000 be
loaned to the Wastewater Treatment Plant Fund from the Wastewater Equipment Reserve
Fund to meet operational expenditures.
Section 2. That said loan be returned to the Wastewater Equipment Reserve
Fund no later than June 30, 1991.
Section 3. That the funds returned shall be obtained from user fees collected
during fiscal year 1990-91.
APPROVED AS TO FORM:
City Attorney Date
APPROVEDV1 (..V\
NANCY A.
Passed by the Council
October 22, 1990
Submitted to the Mayor
October 22, 1990
Approved by the Mayor
October 22, 1990
Filed in the Office of the Recorder
ATTEST:
/Yf ~~~/
Mary ~nt, Deputy Recorder
City of Woodburn, Oregon
October 22, 1990
Page 1 - COUNCIL BILL NO. 1254
RESOLUTION NO. 1022
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