HomeMy WebLinkAboutResolution 2020 (05) Resolution No. 5 (2020)
ST RQ.Jr "" , LINTY RESOLUTION TO CREATE RFP FOR REFINANCING OF STATE TRUST
��� �� � FUND LOANS
1 WHEREAS, the County has $2,422,968 in callable loans at 3.25% interest; and
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3 WHEREAS, the current interest rate market has more favorable interest rates.
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5 NOW, THEREFORE, BE IT RESOLVED that the St. Croix County Board of
6 Supervisors does authorize the issuance of a Bank REP to refinance existing callable State Trust
7 Fund Loans.
Legal—Fiscal—Administrative Approvals:
Legal Note:
Fiscal Impact: Refinancing will save interest expense over the remaining life of the loan.
Cott Cox,Corporation C n 1 "I3/2019 K si�ar Cou A i r,tor 12/11/2019
vi
Pa rick Thompson,County Administrator 12/13/2019
12/16/19 Administration Committee RECOMMENDED
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RESULT: RECOMMENDED [UNANIMOUS]
MOVER: Roy Sjoberg, Vice-Chair
SECONDER: Tammy Moothedan, Supervisor
AYES: Sjoberg, Moothedan, Fosterling, Peterson, Hable
Vote Confirmation.
David PReFSon AdrWnistration°Clhairman 12/17/2019
St. Croix County Board of Supervisors Action:
Roll Call -Vote Requirement— Majority of Supervisors Present
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RESULT: ADOPTED [UNANIMOUS]
MOVER: David Peterson, Supervisor
SECONDER: Dave Ostness, Vice Chair
AYES: Schachtner, Endle, Coulter, Malick, Moothedan, Fosterling, Ostness, Larson,
Hansen, Tellijohn, Peterson, Achterhof, Hable, Peavey
ABSENT: Miller, Sjoberg, Feidler, 13, Anderson
This Resolution was Adopted by the St. Croix County Board of Supervisors on January 7,2020
Cindy Campbell, County Clerk