HomeMy WebLinkAboutRes-2018-056 09 fundsBOARD OF COUNTY COMMISSIONERS
COUNTY OF KITTITAS
STATE OF WASHINGTON
RESOLUTION NO 2018-t..:ilt
A Resolution Authorizing the Payment of the debt on the Shady Brook property from Fund 108
Public Facilities 0.09 Distressed County funds
WHEREAS, on August 18, 2016; the Board of County Commissioners conducted a public
hearing regarding the purchase of the Shady Brook (Shady Acres) Mobile home park. During the public
hearing the board discussed the funding options for debt, which included the 0.09 distressed counties
sales tax, and
WHEREAS, on August 29 , 2016, the Board approved Resolution 2016-110 to finance this
purchase and the purchase of a water right along with certain jail improvements, and
WHEREAS, on September 12,2016, the Board of County Commissioners purchased the Shady
Brook Mobile Home Park in the total amount of $1 ,452,711.40 including all fees, and
WHEREAS, on December 20,2016, the County Treasurer received the financing funds with the
amortization schedule as follows, and
PCliod Bond Totlll
Ending Principal Coupon Interest DebtSm'i~ BuhUlCC Bond Value
12(01.'2017 72,0(1) 1.660% 43,162.6-\ 115.162 .6<1 1,139,000 1,439,000
12101/2018 77.000 2.000% 44,372 40 121,372 40 l,J62,OOO 1,362.000
12/0112019 79,000 2.310% 12,832.40 121 ,831.40 1,283,000 1.283.000
1210112020 81 ,000 2.630% 41.007.50 112,007.50 1,202,000 1.202,000
12/01/1021 83.000 2.890% 38 ,877.20 121,877 20 1.119,000 1,119,000
12!OIi2022 85,000 3.140% 36.478.50 121.478.50 1,034 ,000 1,034,000
12/01/2023 88,000 3.520% 33,il(j9.50 121,809.50 946,000 946,000
12!Olf2024 91.000 ).860% 30,711.90 121.711.90 855,000 855.000
12/()1l21l25 94.000 4.100% 27.199.30 121,199.30 761,000 761.000
12/0l/2026 98,000 4,270% 23,345.30 121,345.30 663,000 663,000
12/01i2027 IOJ.OOO 2.890~-1J 19.160.70 122,160.70 560,000 560.000
12/01/2028 106.,000 2.890% 16,184.00 122.184.00 454,000 454,1)00
12!Oll2()29 I09,O()O 2.890%. 13,120.60 122.120.60 34S,OO(J 345,000
12/01i2030 112 ,000 2.890% 9,970.50 J 21.970 5() 233,000 233,0(1)
12iOli2031 115.000 2.890'% 6,733 .70 121,733 .70 118,01)0 118,(1)0
12101 /2032 1 18.00() 2.890% 3,4]0.20 121Al0.20
1,5I1 ,()()O 430,376.34 1,941,376.34 -.. _.--
WHEREAS, on October 24,2017, during the preliminary budget departmental study sessions,
the Board made a motion that a resolution be prepared for the Board to approve the debt payments come
from Fund 108 Public Facilities the 0.09 distressed counties sales tax fund.
NOW THEREFORE BE IT RESOLVED, the Board authorizes the County Auditor's office to
transfer the funds from the Public Facilities Fund to Fund 201 2016 General Obligation bond.
Resolution
Page 2
EFFECTIVE this 20th'day of March, 2018
BOARD OF COUNTY COMMISSIONERS
K ' AS TV, WASHINGTON
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Obie O'Brien, Vice Chairman
ABSENT
Paul Jewell, Commissioner