HomeMy WebLinkAbout28-08 - Res. Amending Res. 133-07 Declaring County Intent to Issue Bonds to Reimburse for Prior ExpendituresRESOLUTION
Oe
BY THE BO
RESOLUT OB T C AM H ND RES CT r C
OF COUN_'Y COTVMIS S O IE ! S OF M &SON
DEC CF ,ARIN G ': H IF; CO L':Y' S X:1HY: TO IS S
_'0 RIETh/I C JRSE PRIOR xPAND T URES
WH KREAS, the terra
ve_1
/I133-07
COUNT
Y, SHJ11\GI N
ONDS
t e Code of 1986 requires that a municipa
ity dec-a-
intent to issue tax-exempt bonds to rein-Lblrse the rnunicipa1ity for prior expenditures befo
exp endi Wures are incurred;
e its
Qe the
ND WEI HRE S, tree Board of County Commissioners passed Resokution # Y 3 3 -07
d.ec<aring their intent to reimburse expenditures in the amour': of $800,000.00 from the REIH7 2
(35 1MOOMOO) fund as was indicated by 1! esolution # 116-07 o It has come to the attention of the
Mason County treasurer and to the Board of County Commissioners, that the Amended Letter tter of
Conditions entered into with the USDA Rural Development for financing of the Rust_ewood
Wastewater Plant Upgrade requires mterin- financing for the amount of tond Proceeds in the
amount of $831,000.00.
asfo
Now, th ,rrc a orgy it resolved Ire\J the 7Board of Couin
ows:
Iry
lornm¶sslnners of Mason County
the County reasonab y expec is to reimburse the following expenditures Sri :h the
proceeds of bonds to be issued by the County: [$83,O000O interim financing for the
Rustlewood Wastewater Plant Upgrade I. rlhe County expects to issue $83:9000000 prinenpa"
amount of bonds for this pro ecto The expendi yurres to 1be reimbursed from bond proceeds w1 be
made from the R HF-U ' 2 (351-000-000) Fund.
DOPTIED by the Board of County Commissioners of Mason Co
regular rnee
ATTIES
0
s
mg heel oath f 4j , 2008
cl:ed
ecky iogbfs
C=efc of the Boa
?ad
� nty, Washinig
MASON COUNTY, WASHINGTON
By
By
Tim Sheldon, Chair.
zt,tatoet
onata
Commissioner
Ross Gallagher,'Commissionerr,
P:\20978 NMN\20978 325 03/07/08