HomeMy WebLinkAboutCOMM - Meeting Minutes - 44 - 1-21-2010 - SINKING FUNDJ
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Minute No. 44
Washington County Commissioners
Washington, PA, January 21, 2010
The Sinking Fund Commission of the County of Washington met on Thursday,
January 21, 2010, at approximately 11:00 a.m. in the Public Meeting Room of the Courthouse
Square Office Building, Washington, Pennsylvania, with the following members being present:
Commissioners Larry Maggi, Bracken Burns, and Diana L. Irey, Treasurer Francis King and
Controller Michael Namie. Also being present: Finance Director Roger Metcalfe; Administrator
Scott Fergus; Chief Clerk, Mary Helicke; Solicitor J. Lynn DeHaven; Solicitor secretary Joyce
Thornburg and John Adams, a concerned citizen.
Approval of Minutes
Chairman Maggi entertained a motion to approve Minute No. 43 dated January 22, 2009.
Moved by Mrs. Irey, seconded by Mr. Namie, to approve Minute No. 43 as written.
Roll call vote taken:
Mr. Namie — Yes; Mr. King — Yes; Mrs. Irey — Yes; Mr. Burns — Yes; Mr. Maggi — Yes.
Motion carried unanimously.
Approval of 2009 Debt Service Pavments
Chairman Maggi entertained a motion on the approval of 2010 Debt Service Payments
beginning on March 1, 2009 and ending on December 1, 2009. Debt Service Fund totals for the
`i year are $3,992,327.
Moved by Mrs. Irey, seconded by Mr. Namie, to approve the 2010 Debt Service
Payments.
Roll call vote taken:
Mr. Namie — Yes; Mr. King — Yes; Mrs. Irey — Yes; Mr. Burns — Yes; Mr. Maggi — Yes.
Motion carried unanimously.
Revenues and other Financial Sources
It was noted for the record that the tax rate for debt purposes for 2010 is 2.05 mills on
each dollar of assessed valuation. It was also noted that the revenues and other financing sources
budgeted for 2010 to meet the current year's obligations are as follows:
Opening Balance: $580,000
Revenues
Real estate taxes $2,930,344
Interest earnings 20,000
Rent 404,965
Total Revenues $3,355,309
Other Financing Sources:
County Authority $0
Tourism 75,000
Total Other Financing Sources $75,000
TOTAL AVAILABLE $4,010,309
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It was noted for the record that all members of the Sinking Fund Commission have been f
provided with additional documents dealing with the recent debt obligations through the year j
2027. These documents are available for review in the Finance Department. j
There being no further business, Chairman Maggi declared the meeting adjourned at
approximately 11:04 a.m.
THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
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ATTEST:
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SECRETARY
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