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Selectboard approves $460,000 short-term interfund loan for June cash flow
Summary
The Windsor Selectboard voted unanimously to borrow $210,000 from the Water Capital fund and $250,000 from the Sewer Capital fund at 1.489% interest for up to six months to address month-end cash-flow needs.
At the June 2 special meeting, T. Marsh requested immediate interfund borrowing to cover month-end cash flow: “to borrow $210,000.00 from the Water Capital fund and $250,000.00 from the Sewer Capital Fund at an interest rate of 1.489% for a period of no longer than 6 months.”
E. Caffrey moved to approve the short-term loans and J. Johnson seconded; a roll-call vote followed and all board members voted in favor. The motion carried, authorizing the temporary transfers for June cash flow. The board recorded the vote as unanimous; the borrowing is explicitly time-limited to six months and carries the stated interest rate.
