HomeMy WebLinkAboutResolution 024-2009 RESOLUTION NO. 24-09
Resolution Authorizing An Advance To The Airport
Fund For The Purchase Of Snow Removal Equipment
WHEREAS, Resolution 20-09 authorizes the purchase of airport snow plow in the amount of
$172,907.85, and
WHEREAS, it is in the best interests of the City of Brookings to finance the purchase of said
airport snow removal equipment by a loan from the Liquor Fund to the Airport Fund,
NOW THEREFORE, BE IT RESOLVED, that the City Manager is directed to execute an
Interfund Loan from the Liquor Fund to the Airport Fund, providing an annual interest rate of
3%, payable as follows:
YEAR PAYMENT PRINCIPAL INTEREST
2010 6,865.00 1,677.76 5,187.24
2011 6,865.00 1,728.10 5,136.90
2012 6,865.00 1,779.94 5,085.06
2013 172,753.71 167,722.05 5,031.66
Totals 193,348.71 172,907.85 20,440.86
Passed and approved on the 24th day of March, 2009.
CITY OF BROOKINGS
,ott D. M 'stermann, Mayor
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hari Thornes, Brookins City Clerk