HomeMy WebLinkAboutResolution 1979 (09)RESOLUTION No. 9
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TEMPORARYLOANS
WHEREAS, THE COUNTY OF ST. CROIX:, WISCOJSIN, may need a temporary loan
of money.to pay its current and ordinary expenses, and
WHEREAS The County Board deems it necessary to the safety and interest
of said County that -the sum hereinafter mentioned maybe borrowed in. order
to pay the budgeted items only of the current and ordinary expenses of said
County, if required:_
N014`THEREFORE BE IT RESOLVED THAT the.County Board of St. Croix County,
in order to pay the General Government expenses of said County, hereby
authorize and direct the Chairman of the County Board, the County Clerk and
the County Treasurer of said County to borrow up to the sum of $250,000.00,
and to evidence such indebtedness of said County, said Chairman of the
County Board, the County Clerk and 'County Treasurer of said County shall
execute and deliver to the lender or Lenders the Promissory notes of said
County in such amounts as they from time to time may determine, which notes
shall bear interest at the rate of not more than 7% per annum allowable
by the Laws of the State of Wisconsin, said notes to be.dated at such time
as the Chairman of the County -Board, the County Clerk and the County Treasurer
shall deem advisable in order to borrow money for the purpose herein stated
and maturity date shall be determined at the time such loans are executed
and shali be signed.by the Chairman of the Cou ty`Board, the 'County Clerk
and the County Treasurer,
BE IT FURTHER RESOLVED that the Chai man of the County Board, the
County Clerk and the County Treasurer of said County be and>they are hereby
authorized to draw such orders from the County` Treasurer of St. Croix County
for the purpose of repaying said`loans out of current funds>
FINANCE, BUDGET & BUILDIP , COMMITTEE
DATED: February 13, 1979. '
Seymour D hm
Vern Rel s
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Norman E. Anderson
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Robert M. Boche