Chapter 3.10
INTERFUND LOANS

Sections:

3.10.010    Authority of mayor – Ratification by council.

3.10.020    Council approval as part of consent agenda.

3.10.030    Administrative procedures.

3.10.040    Provisions retroactive.

3.10.010 Authority of mayor – Ratification by council.

The city council hereby authorizes the mayor to make interim interfund loans which shall be subject to ratification by the city council at the next regular city council meeting. If at the next regular city council meeting, the city council does not ratify the interfund loan, then the term of the loan will expire as of the date of the meeting at which the city council fails to ratify the interfund loan. (Ord. 1461 § 1, 2000; Ord. 1396 § 1, 1998).

3.10.020 Council approval as part of consent agenda.

The city council’s action on interim interfund loans may be approved as part of the consent agenda of the city council. The city council shall be authorized to approve interfund loans by motion as part of the council’s approval of the consent agenda. (Ord. 1396 § 2, 1998).

3.10.030 Administrative procedures.

The mayor is hereby authorized to implement any administrative procedures as may be necessary to carry out the provisions of this chapter. (Ord. 1396 § 3, 1998).

3.10.040 Provisions retroactive.

The procedures authorized in this chapter shall, if required, be retroactive to January 1, 1997, in order to meet state requirements. All actions taken consistent with the authority granted in this chapter shall be ratified, confirmed and approved. (Ord. 1396 § 4, 1998).