HomeMy WebLinkAbout46-03 - Res. Interfund Loan RESOLUTION NO . �-J l 0 03
INTERFUND LOAN
WHEREAS, the Mason County Reserve for Rodeo Equipment Fund has received contributions
for capital improvements ; and
WHEREAS, the Mason County Reserve for Rodeo Equipment Fund does not have the necessary
cash match to complete the project; and
WHEREAS, the Capital Equipment REET 1 Fund is able and willing to finance the cash match
needs of the Mason County Reserve for Rodeo Equipment Fund;
NOW THEREFORE BE IT RESOLVED, by the Mason County Board of County
Commissioners that an interfund loan for the Mason County Reserve for Rodeo Equipment Fund be
established as follows :
FROM : Capital Improvement/REET 1 Fund
TO : Reserve for Rodeo Equipment Fund
TERMS : Annual Interest Rate : 2 . 38 %
Principal Amount : $ 125000
Duration of Loan: Three (3 ) Years
Debt Repayment: annually
PURPOSE : Capital Improvement Financing
APPROVED this 114 day of April 2003 .
BOARD OF COUNTY COMMISSIONERS
Herb Baze, Chairperson
Wesley E. hnson ommissioner
Jar i L /Kamin, Commissioner
ATTEST:
TA
I Fir
R ecca . Rogers, Clerk of the B ` d
OVEN S T ORM:
Michael Clift, Chief Deputy Prosecutor
C : ER&R, Karen Dowling, Mike Rutter, Capital Imprv/REET 1 file