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09/10/2012 <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE <br /> CITY OF REDWOOD CITY, AS FOLLOWS: <br /> 1. The sum of one miliion, two hundred and fiftv six thousand, and <br /> ninetv seven dollars ($1,256,097) expended by the Redwood City Employee <br /> Benefits Fund is hereby ordered to be repaid by the Redwood City General Fund: <br /> A. Commencing annually beginning in the fiscal year when the <br /> general fund produces an operating surplus in the <br /> immediately preceding fiscal year until the principal amount <br /> shall have been fully repaid; and <br /> B. The amount repaid each year will be determined by the City <br /> Manager but will not exceed the operating surplus generated <br /> in the preceding year. <br /> * * * <br /> ATfYlRES0.2270/AN INTERFUND LOAN AGREE.EE.BENEFIT FUND TO GEN.FUND RESO.#15212 <br /> REV:08-15-12 JS MUFF#904 <br /> Page 2 of 2 <br />