Subject: 19818/Loan-GenFund/CommDevBlockGrantFund
Date: Mon, 19 Apr 1993 15:34:00 -0500


                            RESOLUTION NO.   19818  
                  
                  
                   A RESOLUTION AUTHORIZING A LOAN IN THE
                   AMOUNT OF TEN THOUSAND AND NO/100 DOLLARS
                   ($10,000.00) FROM THE GENERAL FUND TO THE
                   COMMUNITY DEVELOPMENT BLOCK GRANTS FUND TO
                   COVER OPERATING COSTS UNTIL REIMBURSEMENT IS
                   RECEIVED FROM THE DEPARTMENT OF HOUSING AND
                   URBAN DEVELOPMENT.
                  
                                                    
                  
                  
       	    	 WHEREAS, Resolution No. 19718 authorizes the City of
       Chattanooga to participate in the Department of Housing and Urban 

       Development's (HUD) Community Development Block Grants enacted
       under Title I of the Housing and Community Development Act of 
1974
       (Public Law 102-550); and
       	    	 WHEREAS, it is desirable that $10,000 in operating funds
       be made available from the City's General Fund until
       reimbursements are received from HUD; and
       	    	 WHEREAS, such loan will be returned to the General Fund
       at the termination of the Program;
       	    	 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
       THE CITY OF CHATTANOOGA, TENNESSEE, That the Mayor and the City
       Finance Officer be and are hereby authorized to make a $10,000
       loan from the General Fund to the Community Development Block
       Grants Fund, such loan to be repaid at the termination of the
       Program.
       ADOPTED:	 April 27, 1993
      
       :cjc