Resolution No. 98-53 CITY OF TIGARD,OREGON
RESOLUTION NO.98- s3
A RESOLUTION ESTABLISHING THE 69TH AVENUE LOCAL IMPROVEMENT FUND AND
AUTHORIZING AN INTERFUND LOAN FROM THE GENERAL FUND.
WHEREAS, The City Council has approved the preparation of the preliminary engineering report for the
69th avenue Local Improvement District project,and,
WHEREAS, Local budget law in ORS 294326(7)allows an exception for projects that are to be funded
from assessments.
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that:
SECTION 1: Fund#32 entitled the"69th Avenue Local Improvement Fund"is hereby established to
account for the costs of the project which are estimated to be$950,000.
SECTION 2: An interfund loan is hereby authorized from the general fund in the amount of$200,000
to be repaid by June 30, 1999 with interest at the Local Government Pool rate for each
month the loan is outstanding.
PASSED: This 7 day ofy 1998.
or-City of Tigard
ATTEST:
�eputy City a---] - §C' of Tigard
i;kitywide\esolut.dot
RESOLUTION NO.98--
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