HomeMy WebLinkAboutres1981-0441
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i PATE
October 15, 1981 INTRODUCED nY Roehl
PROPOSED BY DID No. 31
RESOLUTION NO. 81 -44
A PESOLUTION OF THE COUNTY COUNCIL OF WHATCOM
MINTY, WASIIINCTON, FIXING TFE INTEREST RATE TO
BE PAID ON INTERIM WARRANTS TO BE HEREAFTER ISSUED
BY CONSOLIDATED DRAINAGE IMPROVEMENT DISTRICT NO. 31
WHEREAS, the County Council of Whatcom County, Washington
has by Resolution No. 81 -21 finally adopted on July 2, 1981 ratif.ie
and approved the Johnson Creek Watershed Improvement Project (the
"Project ") within Consolidated Drainge Improvement District No. 31
(the "District ") and has provided for the issuance of interim
warrants pending the issuance of bonds of thQ District; and
WHEREAS, the Board of Supervisors of the District has pre-
sented a. resolution to the Council finding that it would be in the
best interest of the District and its residents to fix the interest
rate on interim financing warrants hereafter issued by the District
at 11.7% per annum; and
WHEREAS, RCW 85.08.340 provides that such interim financing
warrants drawn on a temporarily insolvent fund shall bear interest
at a rate which is fixed by the Council from time to time;
NOVA', THEREFORE, BE IT RESOLVED by the County Council of
Whatcom County, Washington, as follows:
The interim financing warrants of Consolidated Drainage.
Improvement District No. 31 hereafter drawn on the Consolidated
Drainage Improvement District No. 31 Project Fund to finance
temporarily a portion of the costs of the Johnson Creek Improve-
ment Project when authorized, issued and registered in the manner
required by law shall bear interest from their date of registratio
at the rate of 11.7% per annum until paid or called by the
County Treasurer as warrants of the County are called.
RESOLLUTION -1.
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ADOPTED this 15th day of October, 1981.
WHATCOM COUNTY COUNCIL
WHATCOM COUNTY, WASHINGTON
ATTEST: Joan Ogden
Auditor & Ex- officio
Clerk of the Council
By:
RESOLUTION -2.
Shirley VanlZanterV, Chairperson