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subdivision 2. Inter. Fund Loans. Inter-fund loans are transfers from one fund to <br />ano~ ~th the intentions of repayment of principal or principal and interest. All inter- <br />fund loan~ 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 />perio& <br /> <br /> Subdivision 6. Fund Abolishment. No Fund created by this chapter may be <br /> aboi.i~hed~ except by properly enacted Ordinance or as detailed in Chapter 7 of the City <br /> Charter. <br /> <br />Section 2. <br /> <br />The followin~ is the official summary of Ordinance 93-. ., which has been approved by the <br />City CounCil Df the City of Ramsey as clearly informing the public of the intent and effect of the <br />ordinance. <br /> <br />The Ordinancg repeals the existing City Code Section 3.40 and replaces it with a new Section 3.40. <br />Section 3.40 is a ;section required by the City Charter. This section establishes the various City <br />Funds used f~r t,he deposit and disbursement of City monies. This section further defines the <br />policies of each Fund and how it is to be administered. <br /> <br />Section 3. I <br /> <br />This ordinan¢ <br />City Charter, <br /> <br />PASSED by <br /> <br />,FFECTIVE DATE <br /> <br />e becomes effective upon thirty (30) days after its passage and publication subject to <br />Chapter 5.7. <br /> <br />City Council the 26th day of October, 1993. <br /> <br /> ATTEST: <br /> <br />~'~ Administhtor/Clerk <br /> <br /> Introductio~Date: October 12, 1993 <br /> Posting Dates: October 12 - 26, 1993 <br /> Adoption Dates: October 26, 1993 <br /> Publication Date: October 29, 1993 <br /> Effective D4te: November 29, 1993 <br /> <br />Page <br /> <br />10 of 10 <br /> <br /> <br />