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Iron County to Apply $443,513.19 in Carbon Credit Funds to Saxon Harbor Loan
Summary
The Finance Committee approved a resolution authorizing the use of $443,513.19 from the Carbon Credit Fund to pay down principal on the $777,909.66 Saxon Harbor reconstruction loan, a move the committee said will lower future interest costs. Motion recorded as made by Erickson and seconded by Lauer; minutes note the action carried.
The Iron County Finance Committee voted to apply $443,513.19 from Carbon Credit Fund 205 toward the outstanding Saxon Harbor reconstruction loan, reducing the principal on the $777,909.66 balance. The resolution states the transfer is intended to lower future interest costs and improve the county’s financial position.
The motion to authorize the payment was recorded as made by Erickson and seconded by Lauer, and the minutes state the motion carried. The resolution is titled in the minutes as "Resolution 2026-4071," though the motion line in the minutes shows a different number (see audit). The committee referenced the fund balance (Carbon Credit Fund 205: $443,513.19) and the loan balance in the motion text.
