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Section II. Because an emergency exists due to the City's non-receipt of its 2008 <br />distribution of property taxes, the above listed loans shall be repaid from the borrowing Fund to <br />the lending Fund promptly upon and from the City's receipt of tax revenues levied in 2007 <br />payable in 2008, or by June 30, 2009, whichever is earlier, pursuant to I.C. 36-1-8-4 (b). <br />Section III. This Resolution shall be in full force and effect on December 30, 2008. <br />c ' ~. <br />Member of the mmon Council <br />i'i~~J~~~'~ICD ~~ ~~ <br />PIOT APPROVED <br />ADOPTED ~ Z Z`1 '~B <br />Fil~^I I;~ Cicr~'~ Qifiee <br />DrC 1 c ~~;^~ <br />4 <br />_,~ <br />