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CITY OF LOUISVILLE <br />RESOLUTION NO. 71 <br />SERIES 2000 <br /> <br />A RESOLUTION CREATING AN INTERFUND LOAN AGREEMENT FOR THE <br /> PURCHASE OF LAND FOR POTENTIAL PARKING FACILITIES <br /> <br />WHEREAS, a need exists for funding of $150,000 for land for potential parking <br />facilities through the Parking Improvement Fund; and <br /> <br />WHEREAS, the Capital Projects Fund has sufficient unappropriated funds to loan for <br />this purpose; and <br /> <br />WHEREAS, an interfund loan will be created between the Capital Projects and the <br />Parking Improvements Funds. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br /> <br />Section 1. The amount of $150,000 is hereby loaned from the Capital Projects Fund <br />to the Parking Improvements Fund, with such amount to be repaid by the Parking <br />Improvements Fund through an allocation of $3,100 from each Parking Improvement Fee <br />collected, over an estimated five years, from 2001 through 2005, subject to any necessary <br />budgetary and appropriation actions in accordance with State law. <br /> <br />Nothing herein is intended to prevent a more rapid repayment of such funds should the <br />Council so determine through its budget and appropriation process in accordance with <br />State law. <br /> <br />Section 2. Nothing in this Resolution is intended to nor shall be construed to create <br />any multiple-fiscal year direct or indirect City debt or other financial obligation <br />whatsoever. <br /> <br /> D ADOPTED this 19th __~00~}. / /~ <br /> day of December, £00 . <br /> <br />~City Clerk <br /> <br /> <br />