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CITY OF LOUISVILLE <br />RESOLUTION NO. 42 <br />SERIES 1998 <br /> <br />A RESOLUTION CREATING AN INTERFUND LOAN AGREEMENT FOR THE PURCHASE <br />OF OPEN SPACE <br /> <br />WHEREAS, a need exists for additional funding of $452,188 for open space to be purchased through the <br />Conservation Trust-Land Acquisition Fund, and; <br /> <br />WHEREAS, the Capital Projects Fund has sufficient unappropriated funds to loan for this purpose, and; <br /> <br />WHEREAS, an interfund loan will be created between the Capital Projects and the Conservation Trust-Land <br />Acquisition Funds; <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />LOUISVILLE, COLORADO: <br /> <br />Section 1. The funds of $452,188 from the Capital Projects Fund will be repaid by the Conservation Trust- <br />Land Acquisition Fund over a three year period, from 1999 through 2001, subject to any necessary budgetary <br />and appropriation actions in accordance with State law, as follows: <br /> <br />1999 $150,000 <br />2000 150,000 <br />2001 152.188 <br /> <br />Tot~ $452,188 <br /> <br />Nothing herein is intended to prevent a more rapid repayment of such funds should the Council so determine <br />through its budget and appropriation process in accordance with State law. <br /> <br />Section 2. Nothing in this Resolution is intended to nor should it be construed to create any multiple-fiscal <br />year direct or indirect City debt or other financial obligation whatsoever. <br /> <br />ADOPTED this 4th day of August. <br /> <br />ATTEST: <br /> <br />David Clabots, City Clerk <br /> <br />A~FORM: <br />Griffit~s, Tanoue ~/I~ight,XT/P.C. <br />City At¥orney <br /> <br />Tom Davidson, Mayor <br /> <br /> <br />