HomeMy WebLinkAboutRESOLUTIONS-1971-013-R-7113-R-71
RESOLUTION
Authorizing Loans to General Fund
WHEREAS, it is necessary and in the best interest of the
City of Evanston that certain loans be made to the General Fund
of the City of Evanston from other City funds; and
WHEREAS, moneys are available which are not necessary to
be expended at this time for the purposes for which said funds
were established; and
WHEREAS, the City Council of the City of Evanston desires
that temporary loans be made from said funds for the use of the
General Fund of the City of Evanston, which loans are to be
• repaid from the General Fund as soon as said General Fund is
of sufficient amount to repay said loans, but in no event at
a time later than one year from the date of this resolution;
and
WHEREAS, sufficient funds are available to meet all cur-
rent obligations of the funds from which said loans will be made;
and
WHEREAS, the City of Evanston will have adequate cash
available to repay said loans from the General Fund in sufficient
time to meet all future obligations of the funds from which
loans will be made;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Evanston, Cook County, Illinois:
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SECTION 1: That the City Manager be and is
hereby authorized and directed to
borrow from the Water Bond Construction Fund the amount of
$70,000, which amount will be transferred immediately to the
General' Fund of the City of Evanston. Said loan shall be
repaid to the Water Bond Construction Fund as soon as funds be-
come available for this purpose in the General Fund, but in
no event later than one year from the date of this resolution.
Said funds shall also be repaid in time to meet any outstanding
obligations of said Water Bond Construction Fund.
SECTION 2: That the City Manager be and is
hereby authorized and directed to
borrow from the Beach Improvement Bond Fund the amount of
• $240,000, which amount will be transferred immediately to the
General Fund of the City of Evanston. Said loan shall be
repaid to the Beach Improvement Bond Fund as soon as funds be-
come available for this purpose in the General Fund, but in
no event later than one year from the date of this resolution.
Said funds shall also be repaid in time to meet any outstanding
obligations of said Beach Improvement Bond Fund.
SECTION 3: That the City Manager be and is
hereby authorized and directed to
borrow from the Water Fund Reserve for Replacements the amount
of $170,000, which amount will be transferred immediately to the
General Fund of the City of Evanston. Said loan shall be re-
paid to the Water Fund Reserve for Replacements as soon as
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funds become available for this purpose in the General Fund, but
in no event later than one year from the date of this resolution.
Said funds shall also be repaid in time to meet any outstanding
obligations of said Water Fund Reserve for Replacements.
SECTION 4: The City Manager and his duly author-
ized assistants are hereby directed
to amke the necessary changes on the books, records, and accounts
of the City of Evanston to effectuate the purpose of this
resolution.
ATTEST:
Maurice F. Brown
City Clerk
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Peter D. Jans
Mayor Pro Tem
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