1170 - Resolution - Issuance of Registered WarrantRESOLUTION NO.; �of�
A RESOLUTION OF THE CITY OF PORT ORCHARD
AUTHORIZING THE ISSUANCE OF A REGISTERED
WARRANT IN THE AMOUNT OF $41,247.41 TO
KITSAP COUNTY BANK FROM ANY MONIES IN THE
WATER CONSTRUCTION FUND,'1975 AND BEARING
INTEREST AT THE RATE OF 5 2 % PER ANNUM.
BE IT RESOLVED by the Council of the City of Port
Orchard as follows:
THAT: the need exists for interim financing, for
approximately 120 days, until State Grant funds are available
upon completion of Water Improvement Program construction.
THEREFORE: the Clerk of the City of Port Orchard is
hereby authorized to draw an interest bearing warrant at 52% from
the Water Construction Fund, 1975 in the amount of $41,247.41
to fund construction expenditures:
ZA
DATED this per% day of December, 1976.
Paul 0. Powers, Jr.,' -Mayor