RESOLUTION 2003-5
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF MILLERSBURG, INDIANA TO BORROW MONEY FROM THE C.C.D. & EDIT FUNDS
Where As, the Town Council of the Town of Millersburg had determined that it is now necessary to borrow money from the C.C.D. and EDIT funds to the listed funds below due to reassessment of property taxes and funds not being received until the end of the year from said property taxes.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF MILLERSBURD, INDIANA, THAT:
A total of $40,700.00 be borrowed and transferred as defined below:
1. $30,000.00 be borrowed from the C.C.D. Fund and transferred into the General Fund.2. $10,000.00 be borrowed from the EDIT Fund and transferred into the Park General Fund.3. $700.00 be borrowed from the EDIT Fund and transferred into the C.C.I. Fund.
BE IT ORDAINED THAT: The Clerk/Treasurer shall pay back the loans by December 31st 2003 with 0% interest.
Adopted this 27th day of May, 2003.