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Ordinance No. 0279
CITYOFMEDINAORDINANCENOANORDINANCEmakingatransferfromtheArterialForwardThrustFundtotheStreetFundinthe1972BudgetforthepurposeofcompletingthepurchaseOfatractorbackhoeloaderTHECITYCOUNCILOFTHECITYOFMEDINADOORDAINASFOLLOWSSection1ThereisherebytransferredfromtheArterialForwardThrustFundoftheCitytotheStreetFundforcapitaloutlaythesumOfSixThousandNineHundredThirtysevenand50100ths693750DollarsforthepurposeofcompletingthepurchaseofatractorwithloaderandbackhoeattachmentsSection2TransferredmoneystobedeemedaloanThemoneystransferredbythisOrdinanceshallbedeemedaloanfromtheArterialForwardThrustFundtoberepaidoveraperiodofthree3yearscommencingJanuary1973andtobearinterestattherateoffourpercent4perannumuponunpaidbalancescomputedassimpleinterestSection3CodeReferenceAllsectionshereofshallbeconsideredoftemporaryorspecialeffectSection4EffectiveDateThisOrdinanceshalltakeeffectuponthe19thdayofJune1972PASSEDbyatleastonemorethanjorityoftheCityCouncilOnthe12thdayofJune1972dignedinauthenticationofsuchpassagethesamedayJjMAYORBerniceSowdenCityClerk