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Home My WebLink AboutR09-123 Interfund Loan to 800MHZ FundCommissioner ` moved adoption of the following Resolution BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RE SOLUTION NO. 09 - ~~3 RESOLUTION AUTHORIZING AN INTERFUND LOAN TO THE 800 MHZ FUND FROM THE CAPITAL IMPROVEMENTS FUND AND PROVIDING FOR REPAYMENT OF THE LOAN. WHEREAS, funds are required to pay invoices form Motorola Inc., incurred by the CWIN grant project ; WHEREAS, one hundred and eighty six thousand five hundred nineteen dollars ($186,519.00) in funds are necessary for payment of these invoices; WHEREAS, one hundred and eighty six thousand dollars ($186,000.00) is scheduled to be reimbursed by the State of Colorado, Department of Local Affairs by the end of 2009; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Eagle County Finance Director is hereby authorized and directed to make an interfund loan from the Capital Improvements Project Fund to the 800 MHz Fund in the amount of one hundred and eighty six thousand five hundred nineteen dollars ($186,519.00) to satisfy the outstanding invoices from Motorola Inc. This loan shall be repaid from the 800 MHz Fund upon reimbursement from the State of Colorado, Department of Local Affairs. The loan shall be for a term of one month and shall bear interest at the rate of 0% per annum. Any or all of this loan may be repaid at any time with no pre-payment penalty. THAT, the Board hereby finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the residents of the County of Eagle, State of Colorado. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the ~ day of ~~ , 2009. COUNTY OF EAGLE, STATE OF COLORADO, by and Through Its ATTEST: ~~`~~'~B,QARD OF COUNTY COMMISSIONERS ®~ ~,. ~~ ~ aBy~ Clerk to the Board of r~~*`'~ Sara J. Fisher County Commissioners Chairman JoniStav ey Co mi Toner _ /~~ ~~~ ~~ Peter F. Runyon Commissioner Commissioner + seconded adoption of the foregoing resolution. The roll having been called, the vot was as follows: Commissioner Fisher ~~%~~~~ Commissioner Stavney Commissioner Runyon This Resolution passed by ~~b vote of the Board of County Commissioners of the County of Eagle, State of Colorado.