HomeMy WebLinkAbout76-90 - Res. Interfund LoanRESOLUTION NO. 76-90
INTERFUND LOAN
A RESOLUTION RELATING TO AN INTERFUND LOAN FROM:
EQUIPMENT RENTAL AND REVOLVING FUND to HARTSTENE WASTE WATER TREATMENT
PLANT INFILTRATION AND INFLOW (I & I) STUDY, a Special Revenue Fund.
WHEREAS, Mason County intends to perform side sewer replacement/repair and
manhole repair to the sanitary sewer system at Hartstene Point; and,
WHEREAS, the costs to Consolidated Sewer and Water (C. S. & W.) for these
projects will be reimbursed through the cooperation of Quadrant Corporation,
Hartstene Point MaintenanceAssociation and the Department of Ecology, Referendum
39; and
WHEREAS, the Department of Ecology requires verification that County funds are
available to provide timely progress payments to the contractor; and,
WHEREAS, it is preferable to finance such loan with internal County funds.
NOW, THEREFORE, BE IT RESOLVED by the Board of Mason County Commissioners that
an Interfund Loan not to exceed $ 100,000.00 be established as follows:
From:
To:
Terms:
Purpose:
Equipment Rental & Revolving Fund #501
Consolidated Sewer and Water
(a) Annual Interest Rate of
(b) Amount of loan not to exceed
(c) Duration
(d) Method of repayment: Upon receipt
of Grant Monies to C.S. & W. Fund.
To guarantee required verification by
Department of Ecology of timely progress
payments to Contractor.
ADOPTED this 25th day of September , 19 90 .
Clerk of the Board
APPROVED AS TO FORM:
(C:\WP5O\CSW-LF/HART-LOA.N)
6.5 %
$ 100,000.00
180 days
BOARD OF COUNTY COMMISSIONERS
MASON COUNTY, W INGON
Chairperson, MICHAEL D. G,IBSON
Member, WILLIAM 0. HUNTER
(Resigned 08/31/90)
Member, ANNETTE S. McGEE