HomeMy WebLinkAbout116-91 - Res. Replaces Res. No. 90-91 Interfund Loan RESOLUTION NO. 116-91
THIS RESOLUTION REPLACES RESOLUTION NO. 90-91
INTERFUND LOAN
A RESOLUTION RELATING TO AN INTERFUND LOAN FROM:
EQUIPMENT RENTAL AND REVOLVING FUND to HARTSTENE WASTE WATER TREATMENT
PLANT PLANS AND SPECIFICATION PREPARATION, a Special Revenue Fund.
WHEREAS, Mason County intends to prepare plans and specifications for the
Hartstene Pointe Secondary Treatment Project; and
WHEREAS, the cost to upgrade the Hartstene wastewater treatment plant including
design will be reimbursed through the cooperation of Quadrant Corporation,
Hartstene Pointe Maintenance Association and the Department of Ecology, and
WHEREAS, it is preferable to finance such loan with internal County funds.
NOW, THEREFORE, BE IT RESOLVED by the Board of Mason County Commissioners that
an Interfund Loan not to exceed $ 100,000.00 be established as follows:
From: Equipment Rental & Revolving Fund #501
To: Hartstene Island Secondary Treatment Improvement Fund
Terms: (a) Annual Interest Rate of 7.5
(b) Amount of loan not to exceed $ 100,000.00
(c) Duration One (1) Year
(d) Method of repayment: Upon receipt
of Grant Monies to Hartstene Island
Secondary Treatment Improvement Fund
Purpose: To guarantee required verification by
Department of Ecology of timely progress
payments to Contractor.
ADOPTED this 8th day of October , 19 91
BOARD OF COUNTY COMMISSIONS
MASON COUNTY, WASHINGTON
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Chairperson, WILLIAM 0. VNTER
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Member, MICHAEL D.GIBSON
Member, LAURA E. PORTER
ATTEST:
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Clerk of the Board
APPROVED AS TO FORM:
Mason Coun Prosecutor-
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Accounting Dept (2)
Budget Director
Community Development
Treasurer