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Board OKs using MFT funds to repay Penfield Street loan
Summary
Trustees adopted Resolution #2024-06 to authorize Motor Fuel Tax (MFT) funds to repay a $793,786.80 loan for the Penfield Street improvement project. The vote was unanimous among trustees present.
The Village of Beecher Board adopted Resolution #2024-06 on November 25, 2024, authorizing the use of Motor Fuel Tax funds to repay the loan for the Penfield Street improvement project in the amount of $793,786.80. Trustee Kraus moved for adoption and Trustee Diachenko seconded; the motion passed with six ayes and no nays.
The resolution directs use of MFT resources to cover the indicated loan repayment tied to the Penfield Street project. The board recorded the amount ($793,786.80) explicitly in the motion and approved the authorization at the meeting.
The resolution will be processed administratively and reflected in the village's MFT accounting and debt schedule.
