HomeMy WebLinkAbout09-174 - ADMIN Resolution - City Council - 2009/12/21RESOLUTION NO. 09-174
RESOLUTION AUTHORIZING AN INTERFUND LOAN
WHEREAS, the City of St. Louis Park has created various special purpose funds;
and
WHEREAS, some of those funds may at times run a short term deficit and require
an inter -fund loan;
NOW THEREFORE BE IT RESOLVED by the City of St. Louis Park City
Council:
1. The following inter -fund loan is approved from the Sewer and Solid Waste Utility Funds
as needed:
Fund
Maximum Loan
Water Utility
$2,000,000
. Such loans are to be repaid with 5% interest when sufficient resources are available.
Rev ed for ' dministration:
Ci V'. nag'r
Attest:
City Clerk
Adopted by the City Council December 21, 2009