HomeMy WebLinkAboutCOMM - Meeting Minutes - 50 - 1-21-2016 - SINKING FUND233
MINUTE BOOK
WASHINGTON COUNTY, PENNSYLANIA
[MR LIMITED E1316649LD
Minute No. 50
Washington County Commissioners
Washington, PA, January 21, 2016
The Sinking Fund Commission of the County of Washington met on Thursday,
January 21, 2016, at approximately 11:10 a.m. in the Public Meeting Room of the Courthouse Square
Office Building, Washington, Pennsylvania, with the following members being present:
Commissioners Larry Maggi, Diana Irey Vaughan and Harlan G. Shober, Jr.; Treasurer Francis King;
and Controller Michael Namie. Also being present: Finance Director Roger Metcalfe; Director of
Administration Scott Fergus; Chief Clerk Irene Reese; Solicitor J. Lynn DeHaven; Administrative
Assistant Joyce Thornburg; WJPA representative Jim Jefferson; and Observer -Reporter
representative Barbara Miller.
Annroval of Minutes
Mr. Maggi entertained a motion to approve Minute No. 49 dated January 22, 2015.
Moved by Mr. Namie, seconded by Mr. King, to approve Minute No. 49 as written.
Roll call vote taken:
Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Shober - Yes;
Mr. Maggi - Yes.
Motion carried unanimously.
Annointment of Officers
Moved by Mrs. Vaughan, seconded by Mr. King, to appoint Mr. Maggi to serve as Chairman of
the Sinking Fund Commission.
Roll call vote taken:
Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Shober - Yes;
Mr. Maggi - Yes.
Motion carried unanimously.
Moved by Mrs. Vaughan, seconded by Mr. King, to appoint Mr. Shober to serve as Vice -
Chairman of the Sinking Fund Commission and Mr. Namie as Secretary of the Sinking Fund
Commission.
Roll call vote taken:
Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Shober - Yes;
Mr. Maggi - Yes.
Motion carried unanimously.
Public Comment
None.
234
MINUTE BOOK^
WASHINGTON COUNTY, PENNSYLANIA
IMR LIMITED E1316649LD
ADnroval of 2016 Debt Service Pavments
Mr. Maggi entertained a motion on the approval of 2016 Debt Service Payments beginning on
March 1, 2016 and ending on December 1, 2016. Debt Service Fund totals for the year are
$3,909,695.
Moved by Mrs. Vaughan, seconded by Mr. Shober, to approve the 2016 Debt Service
Payments.
Roll call vote taken:
Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Shober - Yes;
Mr. Maggi - Yes.
Motion carried unanimously.
Revenues and Other Financine Sources
It was noted for the record that the tax rate for debt purposes for 2016 is 2.05 mills on each
dollar of assessed valuation. It was also noted that the revenues and other financing sources
budgeted for 2016 to meet the current year's obligations are as follows:
Opening Balance: $730,000
Revenues
Real estate taxes $3,207,549
Interest earnings 5,000
Rent 400,004
Total Revenues $3,612,553
Other Financing Sources:
County Authority $0
Total Other Financing $0
Sources
TOTAL AVAILABLE $4,342,553
It was noted for the record that all members of the Sinking Fund Commission have been
provided with additional documents dealing with the recent debt obligations through the year
2033. These documents are available for review in the Finance Department.
There being no further business, Mr. Maggi declared the meeting adjourned at approximately
11:12.
THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
2016
ATTEST-77i ,
SECRETARY