title
INTERFUND LOAN FROM THE GENERAL FUND
TO THE ANIMAL SERVICES FUND
COMPANY 1100, ACCOUNTING UNIT 1300
$4,500,000
resolution
WHEREAS, Animal Services desires to add scope to the construction of the renovation and addition to their existing facility ("the Project"), approved by the DuPage County Board with the adoption of Resolution AS-P-0165-22; and
WHEREAS, funding for the added scope to the Project is proposed to come in part from an interfund loan from the GENERAL FUND to the ANIMAL SERVICES FUND to be paid back over eight (8) years; and
WHEREAS, the "payback" of the loan will be accounted for by budgeted interfund transfers to the GENERAL FUND from the ANIMAL SERVICES FUND; and
WHEREAS, the County Board deems an interfund loan from the GENERAL FUND of up to $4,500,000 (FOUR MILLION FIVE HUNDRED THOUSAND, AND NO/100 DOLLARS), or such portions thereof as may be necessary, to the ANIMAL SERVICES FUND - COMPANY 1100, ACCOUNTING UNIT 1300, to complete the construction of the added scope to their existing Project, to be in the best interest of the Citizens of DuPage County.
NOW, THEREFORE, BE IT RESOLVED by the DuPage County Board, that an interfund loan in the aggregate amount not to exceed $4,500,000 (FOUR MILLION FIVE HUNDRED THOUSAND, AND NO/100 DOLLARS) shall be made from the GENERAL FUND to the ANIMAL SERVICES FUND - COMPANY 1100, ACCOUNTING UNIT 1300 for the Project; and
BE IT FURTHER RESOLVED by the DuPage County Board, that the Chief Financial Officer shall authorize transfers of monies to be made in accordance with this resolution, into the ANIMAL SERVICES FUND from the GENERAL FUND, in incremental amounts required to meet construction expenses for the Project; and
BE IT FURTHER RESOLVED by the DuPage County Board, that minimum annual payments calculated by the Chief Financial Officer will come from budgeted An...
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