ADOPTED - DECEMBER 12, 2000

Agenda Item No. 24

Introduced by the Law & Courts and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION AUTHORIZING A LONG TERM ADVANCE TO THE INGHAM COUNTY BUILDING AUTHORITY

RESOLUTION #00-301

WHEREAS, the Board of Commissioners has authorized the Ingham County Building Authority to renovate the Library Services Building for an expanded House of Commons; and

WHEREAS, the Board of Commissioners, the Ingham County Building Authority, and Community Mental Health, who is the operator of the House of Commons, have approved a lease agreement for the use of the renovated building for the expanded House of Commons; and

WHEREAS, in the lease agreement the Board of Commissioners authorized advances to the Ingham County Building Authority and Community Mental Health totaling up to $450,000 for the renovation and for initial operating expenses; and

WHEREAS, any funds necessary for the project beyond the state grant of $320,000 are to be repaid by Community Mental Health according to the terms of the lease; and

WHEREAS, the Community Mental Health Board of Directors has approved requesting up to $375,000 as provided in the lease; and

WHEREAS, the Building Authority has concluded that a long term advance of up to $375,000 from the County General Fund to the Ingham County Building Authority would be the least costly and complex means of financing this project.

THEREFORE BE IT RESOLVED, that the County Board of Commissioners authorizes a long term advance from the County General Fund to the Building Authority in an amount not exceeding $375,000, for renovation and initial operating expenses associated with the renovation.

BE IT FURTHER RESOLVED, that the advance is to be repaid from the rental payments made to the Authority by Community Mental Health according to the terms of the approved lease, provided that the rental payments shall be sufficient to offset the loss of interest earnings otherwise accruing to the General Fund, as determined by the County Treasurer.

BE IT FURTHER RESOLVED, that the County Board of Commissioners reserves the right to require that the Building Authority return the advance to the County General Fund, upon appropriate notice, and that the Building Authority then secure alternate financing.

LAW & COURTS: Yeas: Pratt, Schafer, Lynch, Bernero, Smiley, Juall, Schmidt

Nays: None Absent: None Approved 11/30/00

FINANCE: Yeas: Bernero, Grebner, Czarnecki, McDonald, Schafer, Minter, Juall

Nays: None Absent: None Approved 12/6/00