HomeMy WebLinkAboutResolution 1973 (61) RESOLUTION
TEMPORARY LOANS:
WHEREAS: The County of St. Croix, Wisconsin, 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 may be borrowed in order to pay the current
and ordinary expenses of said County; if required.
NOW THEREFORE BE IT RESOLVED that the County Board of St. Croix County, in order
to pay the current and ordinary 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 the sum of $100,000.00, and to evidence gW@h indebtedness of said
County said Chairman of the County Board, the County Clerk and the 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 shall be signed by the Chairman
of the County Board, the County Clerk and the County Treasurer:
BE IT FURTHER RESOLVED, that to provide for the payment of the principal and
interest on said notes, there is hereby levied on all taxable property of St. Croix
County, in addition to other County taxes, the following dli)ect tax, to-wit: For
the vear 1974 a tax in the amount of $10,000.00 for the payment of principal and
interest upon said notes, said tax shall be collected at the same time and in the
same manner as other County Taxes are collected and shall be carried into the next
tax roll of the County, and the proceeds thereof shall be kept in a separate fund and
be used solely for paying for the principal and interest on said notes, and the said
tax shall continue i..rrepealable;
BE IT FURTHER RESOLVED that the Chairman of th e 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.
DATED: November /y 1973. FINANCE, BUDGET & PLRGONNEL COMMITTEE__
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