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I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br /> I <br /> i <br /> <br />Subdivision 5. Inter-Fund Loans. Inter-fund loans are transfers from one fund to <br />another with the intentions of repayment of principal or principal and interest. All inter- <br />fund loans shall be approved by City Council resolution. Such resolution shall state the <br />amount of the inter-fund loans, the interest rate, where applicable, and the repayment <br />period. <br /> <br />Subdivision 6. Fund Abolishment. No Fund created by this chapter may be abolished <br />except by properly enacted Ordinance or as detailed in Chapter 7 of the City Charter. <br /> <br />Section 2. SUMMARY <br /> <br />The following is the official summary of Ordinance 93-__, which has been approved by the <br />City Council of the City of Ramsey as clearly informing the public of the intent and effect of the <br />Ordinance. <br /> <br />The Ordinance repeals the existing City Code Section 3.40 and replaces it with a new Section <br />3.40. Section 3.40 is a.section required by the City Charter. This section establishes the various <br />City Funds used fbr the deposit and disbursement of City monies. This section further defines <br />the policies of each Fund and how it is to be administered. <br /> <br />Section 3. EFFECTIVE DATE <br /> <br />This ordinance becomes effective upon thirty (30) days after its passage and publication subject <br />to City Charte[, Chapter 5.7. <br /> <br />PASSED by tlxe City Council the 26th day of October, 1993. <br /> <br />ATTEST: <br /> <br />Mayor <br /> <br />City AdministratoffClerk <br /> <br />Introduction Date: <br />Posting Dates: <br />Adoption Dates: <br />Publication Date: <br />Effective Date: <br /> <br />October 12, 1993 <br />October 12 - 26, 1993 <br />October 26, 1993 <br />October 29, 1993 <br />November 29, 1993 <br /> <br />Page 10 ofl0 <br /> <br />I-208- <br /> <br /> <br />