R E S O L U T I O N N O. 54-93

RESOLUTION APPROVING AN INTERFUND LOAN FROM

THE GENERAL FUND TO THE VCB FUND

 WHEREAS, the City of Grand Junction has appoved the construction of a new visitor center and administrative offices of the VCB; and

 WHEREAS, the VCB Fund requires additional funds to complete the planned project and will repay the funds with interest; and

 WHEREAS, an amount of $200,000 is needed from the General Fund in adddition to the VCB's resource contribution of $423,000.

 NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Grand Junction approves a loan from the General Fund to the VCB Fund in an amount of $200,000; said loan to be repaid in equal annual installments over ten (10) years at 8% annual interest.

 PASSED and ADOPTED this 1st day of September, 1993.

             APPROVED:

             ______________________________

             President of the Council

APPROVED:  

_____________________________

City Clerk