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