Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the County Loan Senior Services topic
No spam. Unsubscribe anytime.
Board approves $250,000 internal loan to Senior Services at 2% interest over five years
Summary
The Clare County Board approved an internal loan of $250,000 to Senior Services at 2% interest, to be repaid over five years with annual payments of $52,583.
The Clare County Board of Commissioners approved an internal loan of $250,000 to Senior Services at 2% interest, to be repaid over five years.
The loan documents specify annual payments of $52,583 per year for five years. The motion passed on roll call after commissioners considered the loan term and interest rate options presented by the treasurer's office.
Commissioners asked staff which financing schedule was selected; the clerk noted the selected option was the five-year schedule at 2% interest. The loan is an internal county transfer and will appear in county financial reports.
