HomeMy WebLinkAbout36-02 - Res. Interfund Loan RESOLUTION NO . 3 6- 02
INTERFUND LOAN
WHEREAS, the Mason County Capital Improvement/REET 1 Fund is financing the jail
expansion project; and
WHEREAS, the Mason County Capital Improvement/REET 1 Fund does not have the necessary
cash flow to complete the project; and
WHEREAS, the Equipment Rental and Revolving Fund is able and willing to finance the cash
flow needs of the Mason County Capital Improvement/REET 1 Fund;
NOW THEREFORE BE IT RESOLVED, by the Mason County Board of County
Commissioners that an interfund loan for the Capital Improvement/REET 1 Fund be established as follows :
FROM : Equipment Rental and Revolving Fund
TO : Capital Improvement/REET 1 Fund
TERMS : Annual Interest Rate : 4 . 38 %
Principal Amount: $ 3005000
Duration of Loan: Three (3 ) Years
Debt Repayment: Annual
PURPOSE : Capital Improvement Financing
APPROVED this 16th day of April 20024
BOARD OF COUNTY COMMISSIONERS
Wesley E . 'iohnson; Chairperson
Herb Baze, Commissioner
Bob Holter, Commissioner
ATTEST:
Rebecca S . Rogers, Clerk of tlVe Board
APPROVED AS TO FORM:
Michael Clift, Chief Deputy Prosecutor
C : ER&R, Karen Dowling, Mike Rutter, Capital Imprv/REET 1 file