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STATE OF WASHINGTON
County of Jefferson
In the Matter of Amending Resolution
No. 96-00 to Establish an Interest
Rate of 6.45% per year on the Port
Ludlow Drainage District Loan
RESOLUTION NO. 22~01
WHEREAS, Resolution No. 96-00 was approved on December 18, 2000
authorizing a loan in the amount of $44,500 to the newly formed Port Ludlow Drainage District;
and,
WHEREAS, per Resolution No. 96-00, this loan is to be paid by December 31,
2002, but the resolution did not establish an interest rate for this loan; and,
WHEREAS, over the years, Jefferson County has made loans to other agencies and
districts and has consistently established an interest rate for these loans comparable to the current
rate secured through the County's investment practices and the Treasurer recommends that the
same be done for this loan; and,
NOW; THEREFORE, BE IT RESOL VED, that the Board of Jefferson County
Commissioners hereby establishes an interest rate of 6.45% per year for the full two year term of
the Port Ludlow Drainage District Loan.
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4PPROVJ:;D AND ADOPTED this ~ h - day of
2001.
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JEFFERSON COUNTY
BOARD OF COMMISSIO
SEAL:
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Clerk of the Board