HomeMy WebLinkAbout20-14 - Res. Interfund Revolving Loan ER&R to the County Road FundRESOLUTION NO.
20 "IL+
INTERFUND REVOLVING LOAN ER&R TO THE COU1\
TY ROAD FUND
WHEREAS, in the event that Mason County Department of Public Works encounters expenses resulting
from unforeseen critical events; and
WHEREAS, as a result of the unforeseen critical events, the County Road Fund would be undertaking a
considerable amount of unbudgeted expenses; and
WHEREAS, the Equipment Rental and Revolving Fund (ER&R) is able and willing to provide interim
financing to the County Road Fund for these unforeseen expenses;
NOW THEREFORE BE IT RESOLVED, by the Mason County Board of Commissioners that an interfund
loan to the Mason County Road Fund be established as follows;
FROM:
TO:
TERMS:
PURPOSE:
Equipment, Rental and Revolving fund (ER&R)
County Road Fund
Annual Interest Rate:
Maximum Principal Amount:
Duration of Loan:
Debt Repayment:
Interim Financing
APPROVED this la day of May, 2014.
ATTEST:
L ((
ie Almanzor, Clerk of the
APPROVED AS TO FORM:
Tilt Whitehead,
Chief Deputy Prosecuting Attorney
C: Auditor
Treasurer
2.09%
$2,000,000.00
Three (3) Years
Revolving
BOARD OF COUNTY COMMISSIONERS
MASON COUNTY, WASHINGTON
Ran.
y
eatherlin, Com
- - I
`IJF,
• �.wJrTu
yn: int se 44474%
issioner
Tim Sheldon, Commissioner