Resolution No. 68-03 RESOLUTION "
OAD
AUTHORIZING AND RATAIN FYING STREETLOAN FROM IIMPROVEMENTREET AND DISTRICTRASSESSMENT
FUND TO "S. W. MAIN STREET
RECEIVABLE ACCOUNT (BANCROFT 04)" AND PROVIDING FOR THE
REPAYMENT THEREOF.
February 26, 1968
Whereas, pursuant to 294.460 O.R.S. , a loan from any fund
of the City (other than funds created for the purpose of
retiring indebtedness) to any other fund of the City may be
properly authorized by resolution of the City Council; and
Whereas the sum of $7,168.57 has heretofore been loaned from
the Road and Street Fund of the City to the "S.W. Main
Street. Improvement District Assessment-Receivable Account
(Bancroft #4)" pending sufficient revenues from assessments
and Bancroft bond sales and interest, to defray payments
required pursuant to the construction contract and other
costs of said Improvement District,
NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF TIGARD, AS FOLLOWS:
(1) That loan in the sum of $7,168.57 from the Road
and Street Fund, to the S.W. Main Street Impro:•ement District
Assessment-Receivable Account (Bancroft #4)" for the purpose
of payment of construction and other costs with respect -i�o
said Improvement District. be, and the same are, hereby
ratified and confirmed.
(2) That the repayment of the above amount from said
"S.W. Main Street Improvement District Assessment-Receivable
Account (Bancroft #4)" to said fund be, and the same is
hereby authorized and directed to be made as funds are
available.
Resolution 68 - �—