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Fort Walton Beach Resolution — 80-30-25,000 Loan to EDA Fund — reading text
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RESOLUTION NO. £O-30
A RESOLUTION AUTHORIZING THE LOAN OF $25,000
FROM THE CITY OF FORT WALTON BEACH GENERAL
FUND TO THE EDA FUND, PROVIDING THE EFFECTIVE
DATE HEREOF.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WALTON BEACH, FLORIDA:
SECTION I. That an amount of $25,000 be loaned from
the City of Fort Walton Beach General Fund to the EDA Fund
to be used for payment of invoices due prior to Letter of
Credit being issued.
SECTION II. That the amount of $25,000 will bear
no interest.
SECTION III. That at the conclusion of the EDA Program,
the sum of $25,000 will be repaid to the City of Fort Walton
Beach General Fund.
SECTION IV. That this resolution being of an ad-
ministrative nature shall take full force and effect immediately
upon its passage and approval by the Mayor.
ADOPTED \ yah 54 oO
MAYOR
ATTEST:
lie £ tone
Deputy City Clerk
Reviewed and approved by the City Attorney
which will be legal when enacted by the City
Council of the City of Fort Walton Beach.
WALTER J. SMITH
City Attorney