HomeMy WebLinkAbout14-184 - ADMIN Resolution - City Council - 2014/12/15RESOLUTION NO. 14-184
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 cash 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 Development Fund to the Housing
Rehabilitation Fund as needed:
Loan From
Loan To
Maximum Loan
Development Fund
Housing Rehabilitation Fund
$ 500,000
Such loans are to be repaid with 4% interest when sufficient resources are available.
Revie
for dministration:
City Mana
Attest:
City Clerk
Ado
the City Council December 15, 2014
May