19830111 r-83-1 RESOLUTION NO. R-83-1
A RESOLUTION OF THE CITY OF FAIRFAX, VIRGINIA
AUTHORIZING THE TREASURER TO BORROW FUNDS
WHEREAS, it has been brought to the attention of the City Council by the
Treasurer that a temporary loan will be needed for a period of two weeks to
supplement the General Fund and Water and Sewer Fund pending maturity
of certain certificates of deposit; and
WHEREAS, Section 8.1 of the City Charter provides that general
obligation notes must be authorized by the City Council.
NOW BE IT THEREFORE RESOLVED, that the City Council of the City of
Fairfax does hereby authorize the City Treasurer to borrow and irrevocably
pledge the full faith and credit of this City an amount of up to $500,000
for a period of no longer than two weeks, with the principal and interest
to be paid with the maturity of certain certificates of deposits, general
tax receipts and other City revenues.
Mayor \
'EST: