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Brimfield trustees reallocate township funds to cover $523,097 construction bill, plan internal repayment
Summary
Trustees approved a resolution to use township ledger (JED/MNI) funds to pay a March invoice to contractor Rycon while the township pursues an external loan; departments will be reimbursed when loan funds arrive or by a 2-year internal repayment plan.
Brimfield Township trustees voted Sept. 3 to move previously allocated JED/MNI funds back to the general fund so the township could pay an outstanding construction invoice from March for $523,097.22 and avoid penalties and further interest while a formal external loan application completes.
"We do have an outstanding bill from March in the amount of $523,097.22 which may incur penalties and interest if not paid soon," Fiscal officer Jasmine told the board during the fiscal report. Jasmine presented a proposed internal 0% loan plan that would draw from township divisions (Fire, Roads, Police and a general-fund…
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