Prepared by the Clerk-Treasurer

ORDINANCE NO. 2-02

AN ORDINANCE PROVIDING FOR TEMPORARY LOANS FROM A FUND HAVING SUFFICIENT BALANCE TO A DEPLETED FUND

Whereas, the Common Council may authorize the transfer of a prescribed amount, for a prescribed period, to a depleted fund in need of money for cash flow purposes from another fund that has sufficient money.

Now therefore, be it ordained by the Common Council of the City of West Lafayette that;

Section 1:

The Clerk-Treasurer is authorized to make the following loans from funds having a sufficient balance to funds that are temporarily short in anticipation of tax draws and/or other anticipated funds.

Loan from: Loan to:

Amount
Cumulative Capital Development Fund General Fund

$300,000
Motor Vehicle Highway Fund General Fund

$200,000
Parks Nonreverting Operating Fund Parks and Recreation Fund

$500,000

Section 2:

The loans may be drawn as needed up to the maximum amount.

Section 3:

All loans so made are to be paid prior to December 31, 2002.

Section 4:

This ordinance shall be in full force and effect from and after its passage and signing by the Mayor.

 

Office of the Clerk-Treasurer Judy Rhodes

 
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West Lafayette, Indiana 47906
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