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HomeMy WebLinkAboutRes. Relating to Interfund Loan from Current Expense to Water Quality Improvement FundRESOLUTION NO. /' / — t RESOLUTION RELATING TO AN INTERFUND LOAN FROM CURRENT EXPENSE TO THE WATER QUALITY IMPROVEMENT FUND (RESOLUTION NO. 52-92) WHEREAS, Mason County obtained a loan from the Department of Ecology State Revolving Loan Fund. WHEREAS, these loan proceeds are to assist low and moderate income land owners in Mason County in the installation of best management practices to improve water quality; WHEREAS, Mason County committed Current Expense funds to repay the State Revolving Fund loan if necessary (Resolution 138- 91); WHEREAS, the Current Expense Fund loaned the Water Quality Improvement Fund monies for operating capital until the funds from the State Revolving Fund were received (Resolution 52-92); IT IS HEREBY RESOLVED that the Water Quality Improvement Fund should not have been charged interest on the interfund loan from Current Expense (Resolution 52-92) and that interest charge is hereby forgiven. IT IS FURTHER RESOLVED that the Current Expense Fund will return all interest payments on the above mentioned loan to the Water Quality Improvem1t Fund. DATED this 5 %�11 day of December, 1994. BOARD OF MASON COUNTY COMMISSIONERS MARV L. FAUGHE die WILLIAM 0. HUNTER, COMMISSIONER Abs eti LAURA E. PORTER, COMMISSIONER ATTEST: iffev R BECCA S. ROGERS, CLE K OF THE BOARD A';'PR6VED A TQ FORM: j\4L14 c: Water Quality Treasurer Central Services/Admin, Auditor (2) MICHAEL CLIFT, CHIEF D. PROSECUTOR