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HomeMy WebLinkAbout27-08 - Res. Amending Res. 116-07 Increasing Amount of Interfund Loan from REET2 to RustlewoodS OULION \ 00 -VEND RSOTA `1"IO \ 6=©7'TO INCREASE THE E AMOUhr OF r7L, III` ERFUND LOAN JF.ROM REAL E S L"A L I , EXCISE TAX MEET 2) F' l D 351-0000000 TO WiS il.'47,WOOD SEWER JALJ R J T 11 I E Y �� UTNTD 411=0000000 WHERE E A. S, the Rustlewood Sewer & Water Utility Fund needed interim financing until the fund received grant revenue and long term loan proceeds for sewer treatment plant capitaimprovements; and WHEREAS, the Reel Estate Excise lax (REF f rrraLncmg for the Rustlewood Sewer & Water Utility run equa the amo 2) Fund was able and willing to provide mte_rim AS, the United States a griculture Department (USDA) requires the interim financmg to pnt of the USDA long term oan for sewer treatment plant capital -improvements; NOW THEREFORE, I '+ SOTV.1LID) by the Mason. County Board of County Commissioners that the interfund loan for interim financing approved by esolution 116-07 on November 6, 2007 be amended as follows: A FROM.: 7 CD: 'BERMS: PURTPOS1K: o TEST: Real Estate Excise Tax (REE 2) and 351-000-000 Rustlewood Sewer & Water Utility Fund 41 I-000-000 Annual Interest Rate: 4.96% Principal Amount: $831,000 Duration of Loan: One (1) Year Debt Repayment: One Year ?rovide Interim inancing. (VIED this day of I``�arch 2008. BOARD OF COUNTY COMMISSION ss Gallagher, Con iissioner `---J -<) 7-C4,0> Rebecca S . Rogers, Clerk of the Boar APPRO VIE Monty Cob FORM: osecutor HJ S C: Treasurer, Auditor/Financial Services, Budget & Finance, Utilities Waste Management, File