HomeMy WebLinkAbout104-06 - Res. Interfund Loan from Equipment Rental and Revolving Fund 501 to ParksRESOLUTION NO. 13 41 I.- (3(43
INTERFUND LOAN
WHEREAS, the Mason County Parks Department needed to purchase a new John Deere
Commercial Diesel Mower; and
WHEREAS, the Parks Department did not have the necessary capital to purchase the mower; and
WHEREAS, the Equipment Rental and Revolving Fund 501-000-000 is able and willing to
finance the purchase of the new mower;
NOW THEREFORE BE IT RESOLVED, by the Mason County Board of County
Commissioners that an interfund loan for the purchase of the mower be established as follows:
FROM: Equipment Rental and Revolving Fund
TO: Parks Department/Current Expense Fund
TERMS: Annual Interest Rate: 4.32%
Principal Amount: $15,947 (purchase price $23,776 less down payment
Of $7,829)
Duration of Loan: Five (5) Years
Debt Repayment: $3,552 per year
•
PURPOSE: Purchase of Equipment.
APPROVED this
day of October 2006.
BO OF COUNTY CO VSISSIONERS
Jayni;'L
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airpprson
,LPIAAL
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chmin, Commissioner
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Tim Sheldon, Commissioner
ATTEST:
ifteea y 02-112,6d—J
Rebecca S. Rogers, Clerk of the/Board
os - r. ting Attorney
C: ER&R, Karen Dowling, Parks, Theresia Ehrich, file