HomeMy WebLinkAboutOrdinance 4007 DocuSign Envelope ID:8591 EE60-FA0E-4B5D-81 F3-F83F8C0DA844
ORDINANCE NO. 4007
AN ORDINANCE AUTHORIZING AN INTERFUND LOAN BETWEEN THE PARKS
AND RECREATION FUND AND THE PARKS CONSTRUCTION FUND
WHEREAS, The Parks Construction Fund constructed a new section of the Grandview
Cemetery which included a new section of road for Cemetery access, and
WHEREAS, the final project cost of the Cemetery project exceeded the initial cost
estimates of the project, and funding sources for the project are very limited, and
WHEREAS, those funding sources include use of restricted cemetery improvement
monies that have been set aside from a portion of plot sales, as well as Parks Impact fees and
REET for the new road section, and
WHEREAS, those funding sources may still be short to cover cash flow requirements of
the Parks Construction fund to retain a positive cash balance at 2021 year end, therefore an
additional cash influx may be required to ensure positive cash flow in the Parks Construction
fund, and
WHEREAS, the Parks and Recreation fund has sufficient cash to make an inter fund
loan to the Parks Construction fund to provide sufficient cash to stay solvent, and leave enough
cash in the Parks and Recreation fund to not affect its ability to continue operations.
NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF ANACORTES DOES
ORDAIN AS FOLLOWS:
Section 1. The Parks and Recreation Fund(Fund 101) is authorized to loan the Parks
Construction fund up to $50,000. The term of the loan will be three years.
Section 2. The loan amount will be assessed an interest rate which is equal to the
current 3 year Treasury rate. As of December 2021 that rate is .98%. Simple interest will be
assessed against the remaining balance of the loan. Payments will be due on December 31 st of
each year, starting in 2022, until the loan is paid off. Payoff of the entire balance can be made
any year on December 31st, but no later than December 31 st of 2024.
EFFECTIVE DATE. This ordinance shall take effect from and after five (5) days after
its passage and publication as required by law.
PASSED AND APPROVED THIS 20th of December, 2021.
CITY OF ANACORTES, WASHINGTON:
BY: �'
Laurie Gere
Ordinance 4007 1
DocuSign Envelope ID:8591 EE60-FA0E-4B5D-81 F3-F83F8C0DA844
ATTEST:
Steven D. Hoglund, City Clerk
APPROVED AS TO FORM:
Pam? SWO/uvAA
Darcy Swetnam, WSBA#40530
City Attorney
Ordinance 4007 2
DocuSign
Certificate Of Completion
Envelope Id:8591 EE60FA0F4B5D81 F3F83F8C0DA844 Status:Completed
Subject:SIGNATURE REQUIRED:Approved Ordinance 4007
Source Envelope:
Document Pages:2 Signatures:3 Envelope Originator:
Certificate Pages:5 Initials:0 City Clerk
AutoNav: Enabled PO Box 547
Envelopeld Stamping: Enabled 904 6th St
Time Zone: (UTC-08:00)Pacific Time(US&Canada) Anacortes,WA 98221
cityclerk@cityofanacortes.org
IP Address:23.90.91.2
Record Tracking
Status:Original Holder:City Clerk Location: DocuSign
12/20/2021 8:57:45 PM cityclerk@cityofanacortes.org
Signer Events Signature Timestamp
Darcy Swetnam Sent: 12/20/2021 8:58:50 PM
darcys@cityofanacortes.org Pt O SWt-I-kzum Viewed: 12/29/2021 10:13:58 AM
Security Level: Email,Account Authentication Signed: 12/29/2021 10:14:05 AM
(None)
Signature Adoption: Pre-selected Style
Using IP Address:23.90.91.2
Electronic Record and Signature Disclosure:
Accepted: 12/29/2021 10:13:58 AM
ID: 14356fe9-eb26-43fa-9b51-245a1dc7d527
Steve Hoglund /_ ,/ n Sent: 12/20/2021 8:58:51 PM
steveh@cityofanacortes.org /Ce / Viewed: 12/21/2021 10:21:06 AM
City Clerk/Treasurer Signed: 12/21/2021 10:21:14 AM
City of Anacortes
Security Level: Email,Account Authentication Signature Adoption: Drawn on Device
(None) Using IP Address:23.90.91.2
Electronic Record and Signature Disclosure:
Accepted: 1/8/2019 2:26:27 PM
ID:9b 1630a8-aa5f-4ac5-93eb-5700d 104d979
Laurie Gere Sent: 12/20/2021 8:58:51 PM
laurieg@cityofanacortes.org (,at.Vtt, Art. Viewed: 12/21/2021 9:13:36 AM
Security Level: Email,Account Authentication Signed: 12/21/2021 9:13:50 AM
(None)
Signature Adoption: Pre-selected Style
Using IP Address:23.90.91.2
Electronic Record and Signature Disclosure:
Accepted: 12/21/2021 9:13:36 AM
ID:d355880b-cc68-4741-a2a0-d835848de1d4
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Carbon Copy Events Status Timestamp
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 12/20/2021 8:58:51 PM
Certified Delivered Security Checked 12/21/2021 9:13:36 AM
Signing Complete Security Checked 12/21/2021 9:13:50 AM
Completed Security Checked 12/29/2021 10:14:05 AM
Payment Events Status Timestamps
Electronic Record and Signature Disclosure
Electronic Record and Signature Disclosure created on:7/25/2018 9:59:48 AM
Parties agreed to:Darcy Swetnam,Steve Hoglund,Laurie Gere
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