HomeMy WebLinkAbout58-16 - Res. Interfund Loan for Sheriff's Office Hand Held Radios and VehiclesRESOLUTION NO. ���'j
INTERFUND LOAN FROM ER&R TO CURRENT EXPENSE
TO PURCHASE SHERIFF OFFICE HAND HELD RADIOS AND VEHICLES
WHEREAS, in the 2016 budget process the Board of Mason County Commissioners approved funding for the
purchase of hand-held radios at a cost of $56,181.52 and for the purchase of 16 new vehicles at a cost of $375,000, for
the Mason County Sheriff's Office; and
WHEREAS, it is determined that there is a need for an Interfund loan pursuant to Resolution 17-10, Interfund
Loan Policy and Procedures to pay for a portion of the expense associated with the purchase of the hand held radios and
vehicle; and
WHEREAS, the Board of Mason County Commissioners are committed to appropriating the funding necessary to
repay the Interfund loan installments associated with approval of the Interfund loan in the 2017, 2018 and 2019 Current
Expense budget process.
WHEREAS, on July 18, 2016 the Mason County Finance Committee reviewed the Interfund Loan for the
appropriate use and funding sources necessary for Interfund loan approval; and
NOW THEREFORE BE IT RESOLVED, by the Mason County Board of Commissioners that an Interfund loan to the
Mason County Current Expense Fund from be established as follows:
FROM: Mason County Equipment Rental and & Revolving Fund
#501.000000.000.000
TO: Mason County Current Expense — Non — Departmental
#001.000000.300.000
TERMS:
APPROVED this
Annual Interest Rate:
Principal Amount:
Loan Duration:
Debt Repayment:
day of
\Li.airr:zier, Treasurer
Chair Finance Committee
EST: 1
LUL
Juli�'Almanzor, Clerk of the Board
9RQV-EWA&TO FORM:
Tim Whitehea Chief DPA
1.52%
$431,181.52
Three (3) Years
April 1, 2017, April 1, 2018, April 1, 2019
(Amortization Schedule — Attachment A)
, 2016.
BOARD OF COUNTY COMMISSIONERS
MASON COUNTY, WASHINGTON
Terri Jeffreys,
zq A -1
Tim Sheldon, Commissioner
Rarfdy Neatherlin, Commissioner
CC: Mason County Auditor — Finance, Mason County Treasurer, Mason County ER&R, Support Services
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