The city council hereby authorizes the mayor to make interim interfund loans which shall be subject to ratification by the city council at the next regular city council meeting. If at the next regular city council meeting, the city council does not ratify the interfund loan, then the term of the loan will expire as of the date of the meeting at which the city council fails to ratify the interfund loan.
(Ord. 1396 § 1, 1998; Ord. 1461 § 1, 2000)
The city council's action on interim interfund loans may be approved as part of the consent agenda of the city council. The city council shall be authorized to approve interfund loans by motion as part of the council's approval of the consent agenda.
(Ord. 1396 § 2, 1998)
The procedures authorized in this chapter shall, if required, be retroactive to January 1, 1997, in order to meet state requirements. All actions taken consistent with the authority granted in this chapter shall be ratified, confirmed and approved.
(Ord. 1396 § 4, 1998)