HomeMy WebLinkAbout65-10 - Res. Current Expense Purchase of Road Fund's Interest in Building 8 Parcel 32019-51-04001RESoLUTToN No. G6 "\ Õ
CI]RRENT EXPENSE PURCHASE OF THE ROAD F'T]ND'S
INTEREST IN THE PROPERTY KNOWN AS MASON COUNTY BUILDING 8
PARCEL NUMBER 32019-51-O4OO1
WHEREAS, RCV/ 36.32.120 states " the board of county commissioners... have the care of the county
properry and the management of the county funds and business"; and,
\ilHEREAS, the Mason County Public Works has vacated all office space located on the first floor of
Mason County Building 8, tax parcel #32019-51-04001 as acquired by Mason County Resolution #07-04; and,
WHEREAS, the Mason County Board of Commissioners wishes to transfer said Road Fund interest in
said office space back to the Current Expense Fund and to reimburse the Road Fund #105-000-000 the sum of
5664,263.30, of which $55,066.00 has been paid as a down payrnent;
NOW THEREFORE BE IT RESOLVED, that the Mason County Board of County Commissioners does
hereby agree to pay the balance of the purchase price of $609,197.30 from the Caprtal Improvement REET 1 Fund
#350-000-000 as follows and as shown on Attachment "4" of this document, reseruing the right to pay off the
purchase price earlier with no penalty should Capital Improvement REET 1 funds become available to do so.
Balance
Interest Rate
TERMS
$609,197.30
2.21% ( State Pool+ 2%o)
, Annual Pa)¡ment Date June lst
Duration 20 Years, beginning June 2011
APPROVED this 7th day of September 2010.
BOARD OF COUNTY COMMISSIONERS
Tim Sheldon, Commissioner
ATTACh...,ÉNT ''A''
Principal
APR
Years
Payment
$ 609,197.30
2.27%
20
$38,234.29
Month lnt
$13,018.03
$12,446.74
$11,862.35
$11,264.56
$10,653.06
$10,027.53
$9,387.65
$8,733.09
$8,063.52
$7,378.59
$6,677.95
$5,961.24
$5,228.09
s4,478.12
$3,710.95
$2,926.19
$2,123.42
61,302.24
s462.22
$149,282.04
Total lnterest
Acc Prin
1
2
3
4
5
6
7I
9
$609,197.30
$584,849.83
$559,943.89
$534,466.67
$508,405.06
$¿181,745.65
s454,474.75
$426,578.30
$398,041.99
$368,851.11
$338,990.66
$308,445.29
s277,199.27
$245,236.54
s212,540.67
$179,094.82
$1¿t4,881.81
$109,884.03
$74,083.48
$37,461.7s
$26,594.53
$39,041.27
$50,903.62
$62,168.1 I
i72,821.24
$82,848.77
i92,236.42
$100,969.51
$109,033.03
$116,41't.62
$123,089.57
$r 29,050.81
$r34,278.90
$'138,757.02
s142,467.97
$145,394.16
$147,517.58
$148,819.82
$149,282.04
$24,347
$24,905.94
$25,477.22
$26,061.61
$26,659.41
$27,270.90
$27,896.45
$28,536.31
$29,190.88
$29,860.45
$30,s45.37
$31,246.02
$31,962.73
$32,695.87
$33,445.85
$34,213.01
$34,997.78
$35,800.55
$36,621.73
$37,461.7s
$609,197.30
Total PrinciPal
$49,253.4',|
$74,730.63
$100,792.24
$127,451.65
i154,722.55
$r82,619.00
$211,155.31
$240,346.19
$270,206.64
$300,752.01
$331,998.03
$363,960.76
$396,656.63
$430,102.48
$464,315.49
$499,313.27
$535,1 I 3.82
$571,735.55
$609,197.30
$559,943.89
$534,466.67
$508,405.06
$481,745.65
$451,474.75
$426,578.30
$398,041.99
$368,851.1 I
$338,990.66
$308,4¡15'29
$277,199.27
$245,236.s4
$212,540.67
$179,094.82
$l¡14,881.81
$109,884.03
$74,083.48
$37,461.75
$0.00
10
11
12
t3
14
,t5
l6
17
l8
19
20
$758,479'3¡l
Total Loan Payments
General Fund purchase of Lower Floor of Building #8 - Amortization Program
** From the Gounty Road Fund
Year No.