18-013 - Ordinance X-23 - Interfund Loan for Purchase of New Mower
The 2018 Budget approved the purchase of a new mower in the Equipment Rental fund, allowing the piece of equipment to to be used by multiple departments. The attached ordinance will authorize the interfund loan from the Sewer fund to the Equipment Rental Fund. The loan will be repaid over 10 years at the interest rate of 2.43%. The amortization schedule is attached.