HomeMy WebLinkAbout80-09 - Res. Loan from Equipment Rental & Revolving Fund 501 to Landfill 402REsoLUrroN No.-&O- OPl-
LOAN FROM MASON COUNTY EQUTPMENT RENTAL & REVOLVING (ER&R) X'IJNn
501-OOO-()OO TO THE MASON COfINTYLANDFILL 402-OOO-OOO
WHEREAS, the Mason County Utilities and Waste Management Department has experienced
severe revenue down turn and is in need of additional resources;
WHEREAS, the Equipment Rental & Revolving (ER&R) Fund is able and willing to provide
financing.for the Mason County Utilities and TV'aste Management Department;
NOW THEREFORE BE IT RESOLVED, by the Mason County Board of County
Commissioners that a loan for financing be established as follows:
FROM:
TO:
TERMS:
Mason County Equipment Rental & Revolving Fund (ER&R) 501-000-000
Mason County Landfill 402-000-000
Ar¡rual Interest Rate: 0.6%
Principal Amount: $300,000.00
Duration of Loan: Three Years
DebtRepayment: Monthly
PURPOSE: Provide Financing for the Operation and Maintenance of the Utilities Fund.
APPROVED this /5b day of September 2009.
BOARD OF COUNTY COMMISSIONERS
MASON COUNry, WASH I NGTON
T SI*Q ,,-
ATTEST:
inancial Services, Budget & Finance, Utilities Waste Management, Karen Dowling, ER&R