04-27-1993 - Laserfiche WebLink

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Y3r-/y3 1<40' WHEREAS, said account is due in full on April 29, 1993; and WHEREAS, there are not sufficient funds jointly budgeted by the City of Grand Island and the County of Hall in the joint Department budget for fiscal year 1992-~3 for the payment of this account; and WHEREAS, the County of Hall has sufficient unencumbered budgeted funds available in a subaccount of the County Inheritance Fund to pay the account with Motorola; and WHEREAS, the City of Grand Island does not now have sufficient unencumbered funds available to pay its share of the Motorola account. NOW BE IT RESOLVED that the expenditure ~f $225,663.20 from the Inheritance Tax Fund for the payment of the Department' s account with Motorola Communication and Electronics, Inc. be approved. IT IS FURTHER RESOLVED that said $225,663.20 shall be repaid on August 1, 1993, from the Department's budget and appropriations unless the County of Hall and the City of Grand Island agree on a funding formula as approved by the Hall County Board of Supervisors by Resolution #1489, or as otherwise jointly agreed by the City of Grand Island and by the County of Hall. Further, that interest on said $225,663.20 shall be paid to the County of Hall, Nebraska from the Department budget and appropriations at the rate of 5% per annum commencing May 1, 1993, and payable June 1, 1993, and the first day of each month thereafter in the amoun~.o~ $940.26 mon~hly until the principal of $225,663.20 is paid-. ADOPTED THIS d(~day of April, 1993. BOARD OF SUPERVISORS OF HALL COUNTY, NEBRASKA, By: ATTEST: · . ~~kd ~OL HALL COUNTY CLERK PREPARED BY: JEROM E. JANULEWICZ DEPUTY HALL COUNTY ATTORNEY ~