The clerk/treasurer is hereby authorized to administer an interfund loan program for capital expenses approved by the city council. In conjunction with interfund loans, the clerk/treasurer shall prepare a planned schedule of repayment of the loan principal plus applicable interest. The monthly rate of interest will be the same monthly rate of interest paid by the Washington State Local Government Investment Pool or Banner Bank, whichever is greater, and shall be charged by the lending fund. In addition, the borrowing fund must anticipate sufficient revenues to be in a position over the period of the loan to make the specified principal and interest payments. (Ord. 1794, §1, 2021).