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BOARD OF COMMISSIONERS HALL COUNTY, NEBRASKA RESOLUTION #21-024 A RESOLUTION APPROVING LOANS TO THE HALL COUNTY CONVENTION AND VISITORS BUREAU, INC. AND HALL COUNTY HERO FLIGHT ASSOCIATION TO SUPPORT HALL COUNTY VETERANS AND TOURISM THROUGH THE DEVELOPMENT OF A STATE VETERAN'S CEMETERY WHEREAS, pursuant to Neb. Rev. Stat. § 23-103, the powers of the County as a body are exercised by the County Board of Commissioners ("Board"); and WHEREAS, pursuant to Neb. Rev. Stat. § 23-104(6), the County has the power to do all acts in relation to the concerns of the County necessary to the exercise of its corporate powers; and WHEREAS, pursuant to Neb. Rev. Stat. § 13-1102(1)(d), the Board has the power to finance projects for use as a nonprofit enterprise; and WHEREAS, pursuant to Neb. Rev. Stat. § 13-1102(1)(d), the Board has the power to loan money to finance the such projects; and WHEREAS, the Hall County Hero Flight Association and Hall County Convention and Visitors Bureau, Inc., both non-profits entities, have agreed to assist with the acquisition, construction, rehabilitation, or purchase of a State Veteran's Cemetery to be located in Grand Island, Nebraska; and WHEREAS, the Hall County Hero Flight Association seeks a short term loan of$50,000 for a period of thirty days or less; and WHEREAS, the Hall County Convention and Visitors Bureau, Inc. seeks a loan of$220,000 with a repayment plan of approximately three years; WHEREAS, Hall County has available funds received through the collection of inheritance taxes sufficient to cover the value of the loan requests; NOW THEREFORE IT IS RESOLVED, that the Hall County Board of Commissioners authorizes two loans to be made for use in the acquisition, construction, rehabilitation, or purchase to promote veterans and tourism in Hall County, Nebraska. It is further resolved that the money used for the loan will be funded from inheritance taxes. It is further resolved that the loan amount to the Hall County Hero Flight Association will be in the amount of$50,000 and repaid in approximately thirty days. It is further resolved that the loan amount to the Hall County Convention and Visitors Bureau, Inc. will be in the amount of$220,000 and paid back over a span of approximately three years. Resolution moved by Commissioner -Roc\ Pe 4—Q r So h Seconded by Commissioner r Q h reGCL4 kAj&f r .