Subject: 19710/Loan/CARTA Shuttle Service
Date: Fri, 24 Apr 1992 13:53:00 -0500


                               RESOLUTION NO. 19710
                   
                   
                   A RESOLUTION AUTHORIZING THE CITY FINANCE 
                   OFFICER TO LOAN TO THE CHATTANOOGA AREA 
                   REGIONAL TRANSPORTATION AUTHORITY AN AMOUNT 
                   NOT TO EXCEED FIVE HUNDRED THOUSAND AND 
                   NO/100 DOLLARS ($500,000.00) FROM THE 
                   GENERAL FUND, TWO HUNDRED FIFTY THOUSAND AND 
                   NO/100 DOLLARS ($250,000.00) IN FISCAL YEAR 
                   1992-1993 AND TWO HUNDRED FIFTY THOUSAND AND 
                   NO/100 DOLLARS ($250,000.00) IN FISCAL YEAR 
                   1993-1994, FOR THE PURPOSE OF PAYING FOR 
                   OPERATING EXPENSES OF THE SHUTTLE SERVICE.
                   
                   
                                                     
                   
                   
       	    	 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF 
       CHATTANOOGA, TENNESSEE, That the City Finance Officer be and is 
       hereby authorized to loan an amount not to exceed $500,000.00 to 
       the Chattanooga Area Regional Transportation Authority (CARTA) 
       from the General Fund, half of which will be authorized in fiscal 
       year 1992-1993 and the other half of which will be authorized in 
       fiscal year 1993-1994, for the purpose of paying operating 
       expenses of the Shuttle Service.  Said loan is to be repaid from 
       proceeds received by CARTA from the parking garage revenues.
       
       ADOPTED:	 January 26, 1993
       
       GR:bhs(cjc)