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RESOLUTION NO. 06-18386 RESOLUTION RELATING TO AN INTER-FUND LOAN AND APPROVING THE TERMS AND CONDITIONS OF THE LOAN BE IT RESOLVED by the City Council (the “Council”) of the City of Billings, Montana (the “City”), as follows: Section 1. Authorization. 1.01. This Council has approved a budget amendment for the Property/Liability Insurance Fund in the amount of $300,000 to pay for liability insurance premiums that exceeded budget by approximately the same amount. In order to pay increased costs, the Council determined that it was necessary and desirable and in the best interests of the City to finance such costs through an inter-fund loan from the General Fund to the Property/Liability Insurance Fund. Section 2. Terms. 2.01. The Property/Liability Insurance Fund will make a lump-sum payment to the General Fund in FY 07. Interest will be the City’s annual rate of return for the previous year ending June 30 plus one-half of one percent applied to the unpaid principal amount. APPROVED by the City Council of the City of Billings, Montana, this 13th day of February, 2006. CITY OF BILLINGS: RON TUSSING, Mayor Attest: MARITA HEROLD, CMC/AAE City Clerk