HomeMy WebLinkAboutCC Res 3117 1981-11-23
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RESOLUTION NO. ~ /17
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEAL BEACH, CALIFORNIA, AUTHORIZING A LOAN
TO THE WATER UTILITY OF $153,000.
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS, 'insufficient resources presently exist in the Water Fund to
repay the ~ity for services rendered to the Yater Utility during
fiscal years 1979/80 and 1 980/Rl, and
WHEREAS, the total of the amounts owed by the Water Utility is determined
to be $l53,OOO including accrued interest, and
WHEREAS, the water rate charged to users is to be increased effective
January 1,1982 by an amount sufficient to raise the above
menti9ned sum of $153,000 within the two years ended
June 30~ 1984.
NOW, THEREFORE, BE IT RESOLVED that the sum of $153,000 constitutes a loan
to the Water Utility which shall be repaid together with 10% per annum
simple interest by June 30, 1984.
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PASSED, APPROVED AND ADOPTED by the City Cou!Lc11 ofi the Ci~f seal~~~
California, at a meeting thereof on the ~" day of ",,""":1 '" ,
198}, by the followin9 vote:
1 AYES: Councilmember(s)
NOES: Councilmember(s),
ABSENT: Councilmember(s)
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ATTEST:
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