HomeMy WebLinkAboutCOMM - Meeting Minutes - 51 - 1-19-2017 - SINKING FUND235
MINUTE BOOK
WASHINGTON COUNTY, PENNSYLANIA
IMR LIMITED El316649LD
Minute No. 51
Washington County Commissioners
Washington, PA, January 19, 2017
The Sinking Fund Commission of the County of Washington met on Thursday,
January 19, 2017, at approximately 10:36 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: Director of Administration Scott Fergus;
Solicitor J. Lynn DeHaven; Administrative Assistant Joyce Thornburg; Executive Secretary Randi
Marodi; WJPA representative Jim Jefferson; Observer -Reporter representative Barbara Miller;
Herald Standard representative Pat Cloonan; Frank Byrd and Don Carter.
Annroval of Minutes
Mr. Maggi entertained a motion to approve Minute No. 50 dated January 21, 2016.
Moved by Mrs. Vaughan, seconded by Mr. Namie, to approve Minute No. 50 as written.
Roll call vote taken:
Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Maggi - Yes;
Mr. Shober - Yes.
Motion carried unanimously.
Annroval of 2017 Debt Service Payments
Mr. Maggi entertained a motion on the approval of 2017 Debt Service Payments beginning
on March 1, 2017 and ending on September 1, 2017. Debt Service Fund totals for the year are
$3,716,905.
Moved by Mrs. Vaughan, seconded by Mr. Shober, to approve the 2017 Debt Service
Payments.
Roll call vote taken:
Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Maggi - Yes;
Mr. Shober - Yes.
Motion carried unanimously.
Revenues and Other Financing Sources
It was noted for the record that the tax rate for debt purposes for 2017 is 0.16 mills on each
dollar of assessed valuation. It was also noted that the revenues and other financing sources
budgeted for 2017 to meet the current year's obligations are as follows:
236
MINUTE BOOK
WASHINGTON COUNTY, PENNSYLANIA
IMR LIMITED E1316649LD
Opening Balance:
Revenues
Real estate taxes
Interest earnings
Rent
Total Revenues
Other Financing Sources:
County Authority
Total Other Financing Sources
TOTAL AVAILABLE
$1,080,000
$2,S83,106
10,000
398.722
$2,991,828
$0
$0
$4,071,828
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 10:37a.m.
THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
2017
ATTEST:��
SECRETARY
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