RESOLUTION declaring official intent to transfer revolving loan fund monies to brown county economic development fund

The Board of Trustees of the Village Board of Suamico do resolve as follows:

WHEREAS, the Village of Suamico, Brown County, Wisconsin (the "Municipality") received monies through the Wisconsin Department of Commerce for the purpose of economic development (Revolving Loan funds); and

WHEREAS, due to the lack of active or pending activity on such monies, the State of Wisconsin, Department of Commerce deadline of December 31, 2004 to make a loan on the funds expired; and

WHEREAS, the Village of Suamico Commercial Development Committee did at it’s February 17, 2005 meeting recommend transferring the remaining Revolving Loan funds to Brown County for use in their Economic Development Revolving Loan Fund program; and

WHEREAS, the Wisconsin Department of Commerce approved the transfer of the remaining funds of $80,162.63 to the Brown County Treasurer for further credit to the Brown County Economic Development Revolving Loan Fund.

NOW, THEREFORE, BE IT RESOLVED by the Village Board of the Village of Suamico, Brown County, Wisconsin, that:

The Municipality shall transfer the $80,162.63 balance of the Village of Suamico Revolving Loan Fund to the Brown County Treasurer for use in the Brown County Economic Development Revolving Loan Fund program. This transfer shall be effective retroactive to December 21, 2006.

 

Elizabeth Sheedy, Village President

Attest:

Bonnie Swan, Village Clerk

 

Vote: Aye

Nay

Abstain

Absent