HomeMy WebLinkAbout09-09 - Res. Interfund Loan from Equipment & Rental Revolving Fund to Current ExpenseRESOLUTTON No. @pq
INTERFUND LOAN FROM EQUIPMENT RENTAL AND REVOLVING FUND TO
CURRENT EXPENSE
WHEREAS, the Mason County Current Expense Fund is experiencing a cash flow shortage for
the hrst quarter of2009, and
\ryHEREAS, the Mason County Curent Expense Fund will not receive properfy tax income until
April and October of 2009, and
WHEREAS, Mason County will need to pay expenses of the County Curent Expense fund until
such time as tax income is received, and
WHEREAS, the Equipment Rental and Revolving Fund has adequate funds to loan to the County
Current Expense fund;
NO\ry THEREFORE BE IT RESOLVED, by the Mason County Board of County
Commissioners that an inter-fund loan to the Mason County Current Expense Fund be established as
follows;
FROM:
TO:
TERMS:
PURPOSE:
Annual Interest Rate:
Principal Amount:
Loan Duration:
Debt Repayment
Interim Financing
Mason County Equipment Rental & Revolving Fund
#501-000-000
Mason County Current Expense Fund
#00 I -000-000
APPROVED ttris IDL day of Febru ary,2009.
1,2%
$2,000,000.00
One (l) Year, Six Months
Annual
BOARD OF COUNTY COMMISSIONERS'G sLge--
Gallagher, Commi
ATTEST:
C: Treasurer, Budget & Finance, Theresia ER& R,