HomeMy WebLinkAbout05-92 - Res. Interfund Loan to Mason Transit System RESOLUTION NO. 5-92
INTERFUND LOAN
A RESOLUTION RELATING TO AN INTERFUND LOAN FROM: CURRENT
EXPENSE TO THE MASON TRANSIT SYSTEM.
WHEREAS, the Mason Transit System was established as authorized by state statutes, and
WHEREAS, tax revenue for the Mason Transit System will not be received until
approximately April of 1992; and the System will need operating capital unttl such revenue
is received; and
WHEREAS, RCW 36.57A.080 allows Mason Transit System to contract with the County.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Mason County Commissioners
that an iunterfund loan not to exceed $4,375.00 be approved as follows:
FROM: CURRENT EXPENSE
TO: MASON TRANSIT SYSTEM
TERMS: (A) Annual Interest Rate of 7.0%
(B) Amount of Loan not of Exceed $4,375.00
(C) Duration - six (6) months
(D) Method of Repayment: Tax revenue
PURPOSE: To provide operating funds unttl tax revenue is received.
ADOPTED this 14th day of January, 1992.
BOARD OF COUNTY
COMMISSIONERS
MASON COUNTY, WASHINGTON
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Laura E. Porter, Chai erso
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ATTEST: Cc-�`"
Michael D. Gibson, Commissioner
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Rebecca S. Rogers, Clerk f the Board William O. Hunter, Commissioner
S TO FORM:
Prosecuting Attorney for
Mason County
c: File
Accounting Dept.(2)
Budget Director
Cmmr.Porter
Treasurer