HomeMy WebLinkAboutCityMgrForm.645.03-01-1972 ` J Y •
CITY MANAGER FORM ORDINANCE NO. � S'
AN ORDINANCE AUTHORIZING THE LENDING OF MONEY FROM THE AIRPORT
BOND AND ZNTERE5T FUND, 1958 AND 1965 TO THE AIRPORT CAPITAL
IMPROVEMENTS FUND FOR A PERIOD OF TWENTY-FOUR MONTHS AT SIX
PERCENT INTEREST, REQUIRING THE CITY MANAGER TO CAUSE REPAYMENT
OF THIS MONEY TO THESE FUNDS AS MONEY BECONL S AVAILABLE IN THE
GENERAL CAPITAL IMPROVEMENT5 FUND
WHEREAS, the City of Cape Girardeau has agreed to
construct an airport hangar building; and
WHEREAS, there is presently money availab le in the
Airport Bond and Interest Fund, 1958 and 1965; and
WHEREAS, such money can be temporarily loaned to the
Airport Capital Improvements Fund;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE
CITY OF CAPE GIRARDEAU, MI5SOURI, AS FOLLOWS:
SECTION l. The City Manager is hereby authorized to
transfer from the Airport Bond and Interest Fund, 1958 and 1965 ,
the sum of $I70 ,000 . to the Airport Capital Improvements Fund,
as a loan, which money is to be used for the construction of
an airport hangar building to replace the building that was
destroyed by fire during the summer of 1971 .
SECTION 2 . The City Council finds that there is
sufficient money in the Airport Bond and Intexest Fund, 1958
and 1965 , which funds can be temporarily loaned to the Airport
Capital Improvements Fund until such time that additional funds
are available in the: General Capital Improvements Fund. The
money from the Airport Bond and Interest Fund, 1958 and 1965,
is to be loaned to the Airport Capital Improvements Fund for a
period not to exceed two (2) years at an interest rate of
six (6) percent.
SECTION 3. The City Manager is hereby required to
repay the stated amount from the General Capital Improvements
Fund to the Airport I3ond and Interest Fund, 1958 and 1965 , as
funds beCome available in the Gerieral Capital Improvements Fund.
3.
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5ECTION 4. This ordinance shall be in full force and
effect teri days after its passage and approval.�'D�-��
PASSED AND APPROVED THIS /�� DAY OF FE-��Y; 1972.
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MAYOR
ATTEST:
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CITY C ERK