R-59-074~~ ~
R E S O L U T I O N
AREAS, in order to meet a financial emergency it is
necessary to transfer from one or more budgeted accounts to
the General Fund $16,000.00 to be repaid at Least one-fourth
(~) thereof each year together with interest at 3~ per annum
on all unpaid balances; and,
WHEREAS, there is $16,000.00 in the Equipment Replace»
went Fund which will not be needed until repaid and can be
transferred to the General Fund without violating the Charter,
Ordinances and/or bond issues of said City! therefore,
BE IT RESOLVED by the City Council of the City of Cler~
wont that the City Clerk of the City of Clermont is hereby
authorized and directed to transfer from the Equipment Rew
placement Fund to the General Fund the sum of $16,000.00 to
cover this emergency and that said sum be repaid to the Equip
went Replacement Fund, together with interest at 3,~ per anw
num payable annually beginning on or before December 31, 1960,
together with one»fourth (~) of the original principal
BE IT FURTHER RESOLVED that hereafter each Council, in
preparing their annual budget, take into account the replace-
went of said funds in the manner provided hereinbefore.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ADOPTED by the City Council at its regular meeting
held on October 6, 1959.
Pres. Pro Tem. o Council
Clermont, Florida
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