RESOLUTION NO. 105-95

RESOLUTION APPROVING AN INTERFUND LOAN FROM THE GENERAL FUND TO THE SOLID WASTE FUND

         WHEREAS, in an effort to contain future operating costs, the City of Grand Junction has approved the purchase of automated refuse collection equipment by the Solid Waste Management Division of the Public Works and Utilities Department; and

         WHEREAS, the Solid Waste Fund requires additional funds to

purchase the containers necessary to automate refuse collection and will repay the funds with interest; and

         WHEREAS, an amount of $643,725 from the General Fund is

expected to be needed in the Fall of 1996 to purchase those containers.

         NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Grand Junction approves a loan from the General Fund to the Solid Waste Fund in an amount of $643,725; said loan to repaid over ten (10) years at eight percent (8%) annual interest in accordance to the attached schedule.

         PASSED and ADOPTED this 6th day of December, 1995.

APPROVED:

/s/ Ron Maupin

President of the Council

ATTEST:

/s/ Stephanie Nye

City Clerk