HomeMy WebLinkAbout2014-011IN-9• 9A1432KI ]K� 1
WHEREAS, Ordinance 2012-005 authorizes the Finance Director to manage the Short-
f Loan Program • and
WHEREAS, Certain Funds that are the recipient of Property Taxes could be subject to a
short -fall of ending fund balances at the end of any month prior to actually receiving property tax
• • and
WHEREAS, during those periods prior to Property tax dollars being received' am
operating fund may require a short term interfund loan to cover a negative ending fund balan
until property taxes are received, the majority being received in April/May a
October/November of and
WHEREAS, a loan was needed at the end of January, February and March in the total
amount of $285,716; and
WHEREAS, the Emergency Medical Services Fund should pay interest on the loan ti
to the monthly• • ••' rate managed by
Office.
PASSED AND ADOPTED by the City Council of the City of Arlington in the State of
Washington on this 5th day of May, 2014.
CITY OF ARLINGTON
/
Barbara Tolbert, Mayor
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MINE,
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