1297 Water Debt

CITY OF ELGIN, OREGON RESOLUTION 1297 (2014)

A RESOLUTION OF THE CITY COUNCIL SETTING AN EXTRA YEARLY DEBT PAYMENT TO THE WATER DEBT FUND 

WHEREAS: The City of Elgin Budget Committee has approved an extra principal payment in the amount of $75,000.00 to be made each year to the Water Debt Fund until the debt is paid in full and;

WHEREAS: The extra principal payment of $75,000.00 each year until the debt is paid in full is considered to be in the best interest of the City of Elgin.

NOW THEREFORE BE IT RESOLVED THAT: on the due date of the original payment an extra $75,000.00 principal payment will be made to the water debt for the purpose of paying down old debt.

PASSED AND ADOPTED this 11th day of June 2013.