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HomeMy WebLinkAbout1439RESOLUTION NO. I L/ 3j A RESOLUTION of the City Council of the City of Kent, Washington, authorizing an interfund loan for the purchase and improvements of the Saturday Market facility. WHEREAS, the State requires interfund loans be approved by resolution; and WHEREAS, the City has determined to purchase certain property for use by the Kent Saturday Market; and WHEREAS, the funds for acquisition and improvements of the Saturday Market property shall be obtained through an interfund loan; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The City shall fund the purchase of the Saturday Market facility property through an interfund loan. Section 2. The City's CIP Fund shall borrow $600,000.00 from the City's Equipment Rental Fund for a period of fifteen (15) years. Section 3. The rate of interest for this loan shall be 7.25% per annum, which is based on the external rate available to the City at this time. Section 4. The schedule for repayment from the City's CIP Fund to the City's Equipment Rental Fund is attached as Exhibit A. Passed at a regular meeting of the City Council of the City of Kent, Washington this / f day of d ~ , 1995. Concurred in by the Mayor of the Ci y of Kent, this c:( 0 day of ~ C-!j , 1995. ATTEST: JACOBER,.· APPROVED AS TO FORM: . ··-··----- .' ····"~ CLERK ·":.:-.-=--·""-·· =----==···"··' _·:·<h ----~=-~~-~~:· -= ···---~-~>., ROGER A. LUBOVICH, CITY ATTORNEY 2 I hereby certify that this is a true and correct copy of Resolution No. /Lf3j , passed by the City Council of the City of Kent, Washington, the I!{_ day of ) o_-f,~ , 1995. 1 ~ / -~ // , . .-__ ., _ _d!-"-.. ( t'Z...C: ~--6-eA..sRAL) · BRENDA JACOBER, CI Y CLERK satrnkt.res 3 Pmt:. ll l 2 3 4 5 6 7 8 9 10 11 12 l3 14 15 16 17 18 l9 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 ~2 0 44 45 Dat:.e Jul-95 Aug-95 Sep-95 Oct.-95 Nov-95 Dec-95 Jan-96 Feb-96 Mar-96 Apr-96 May-96 Jun-96 Jul-96 Aug-96 Sep-96 Oct.-96 Nov-96 Dec-96 Jan-97 Feb-97 Mar-97 Jl.pr-97 May-97 Jun-97 Jul-97 Aug-97 Sep-97 Oct:-97 Nov-97 Dec-97 Jan-98 Feb-98 Mar-98 Apr-98 May-98 Jun-98 Jul-98 Aug-98 Sep-98 Oct.-98 Nov-98 Dec-98 Jan-99 Feb-99 Mar-99 Apr-99 LIB.WQ! 07-Jul-95 Orig Balance $600,000 Yr Rat:.e 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7. 25% . 7.25% 7.25% 7.25% 7.25% 7. 25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25'< 7.25'< 7.25% 7.25% 7.25'< 7.25% 7.25~ 7.25% P&I Payment:. $5,477.l8 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.:!.8 $5,477.18 $5,477.18 $5,477.18 $5,4.77.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.19 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 Orig Rat:.e 7.25% Princip $1,852.18 $1,863.37 $1,874.63 $1,885.95 $1,897.35 $1,908.81 $1,920.34 $1,931.95 $1,943.62 $1,955.36 $1,.967.17 $1,979.06 $1,991.02 $2,003.05 $2,015.15 $2,027.32 $2,039.57 $2,051.89 $2,064.29 $2,076.76 $2,089.31 $2,101.93 $2 ,1l4 .63 $2,127.41 $2,140.26 $2,153.19 $2,166.20 $2,179.29 $2,192.45 $2,205.70 $2,219.03 $2,23~.43 $2,245.92 $2,259.49 $2,273.14 $2,286.87 $2,300.69 $2,314.59 $2,328.57 $2.342.54 $2,356.80 $2, 371. OJ $2,385.36 $2.399.77 $2,414.27 Term (yrsl 15 Int:.erest:. $3,625.00 $3,613.81 $3,602.55 $3,591.23 $3,579.83 $3.568.37 $3,556.84 $3,545.23 $3,533.56 $3. 521.82 $3,510.01 $3,498.12 $3,486.16 $3,474.13 $3,462.03 $3,449.86 $3,437.61 $3,425.29 $3,412.89 $3,400.42 $3,387.87 $3,375.25 $3,362.55 $3,349.77 $3,336.92 $3.323.99 $3,310.98 $3,297.89 $3,284.73 $3.271.48 $3,258.15 $3,244.75 $3,231.26 $3,217.59 $3,204.04 $3,190.31 $3,176.49 $3,162.59 $3.148.61 $3,134.54 $3,120.38 $3,106.15 $3,091.82 $3,077.41 $3,062.91 EXHIBITL 1st:. PM'l' Aug-95 Ext:.ra Prin $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 so.oo $0.00 $0.00 $0.00 _so. oo $0.00 $0.00 so.ao $0.00 $0.00 $0.00 $0.00 $0.00 s 0-00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 so.oo $0.00 so.oo $0.00 Fut:.ure Value so New Balance $600,000.00 $598,147.82 $596,284.45 $594,409.82 $592,523.87 $590,626.52 $588,717.71 $586,797.37 $584,865.42 $582,921.80 $580.966.44 $578,999.27 $577,020.21 $575,029.19 $573,026.14 $571,010.99 $568,983.67 $566,944.10 $564,892.21 $562,827.92 $560,751.16 $558.661.85 $556,559.92 $554,445.29 $552,317.88 $550,177.62 $548,024.43 $545,858.23 $543,678.94 $541,486.49 $539,280.79 $537.061.76 $534,829.33 $532,583.41 $530,323.92 $528,050.78 $525,763.91 $523,463.22 $521,148.63 $518,820.06 $516,477.42 $514,120.62 $511,749.59 $509.364.23 $506,964.46 $504,550.19 46 47 48 49 so 5~ 52 53 54 55 56 57 58 59 60 6~ 62 63 64 65 66 67 68 69 70 7~ 72 73 74 75 76 77 78 79 80 81 82 83 84 as 86 87 88 89 90 91 92 93 94 95 May-99 Jun-99 Jul-99 Aug-99 Sep-99 Oc::-99 Nov-99 Oec-99 Jan-2000 Feb-2000 Mar-2000 Apr-2000 May-2000 Jun-2000 Jul-2000 Aug-2000 Sep-2000 Oct-2000 Nov-2000 Oec-2000 Jan-2001 Feb-2001 Mar-2001 Apr-2001 May-200~ Jun-2001 Jul-2001 Aug-2001 Sep-2001 Oct-2001 Nov-2001 Dec-2001 Jan-2002 Feb-2002 Mar-2002 Apr-2002 May-2002 Jun-2002 Jul-2002 Aug-2002 Sep-2002 Oct-2002 Nov-2002 Dec-2002 Jan-2003 Feb-2003 Mar-2003 Apr-200"3 May-2003 Jun-2003 LIB.WQ! 07-Jul-95 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25'< 7.25'< 7.25% 7.25% 7.25% 7.25'< 7.25% 7.25% 7.25% 7.25% 7.25\ 7.25% 7.25% $5,477.~8 $5,477.~8 $5,477.18 $5,477.18 $5,477.~8 $5,477.~8 $5,477.~8 $5,477.~8 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.~8 $5,477.~8 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 ss. 477.18 $5,477.18 $5,477.18 $2' 428 .. 86 $2,443.53 $2,458.29 $2,473.15 $2,488.09 $2,503.12 $2,518.24 $2,533.46 $2,548.76 $2,564.16 $2,579.65 $:<.,595.24 ~2,610.92 $2,626.69 $2,642.56 $2,658.53 $2,674.59 $2,690.75 $2,707.01 $2,723.36 $2,739.81 $2,756.37 $2,773.02 $2,789.77 $2,806.63 $2.~23.59 $2,840.64 $2,857.81 $2,875.07 $2,892.44 $2,909.92 $2,927.50 $2,945.19 $2,962.98 $2,980.88 $2,998.89 $3,017.01 $3,035.24 "$3,053.57 $3,072.02 $3,090.58 $3,109.26 $3,128.04 $3,146.94 $3,165.95 $3,185.08 $3,204.32 $3,223.68 $3,243.16 $3,262.75 $3,048.32 $3,033.65 $3,018.89 $3,004.03 $2,989.09 $2,974.06 $2,958.94 $2,943.72 $2,928.42 $2,913.02 $2,897.53 $2,881.94 $2,866.26 $2,850.49 $2,834.62 $2,818.65 $2,802.59 $2,786.43 $2,770.17 $2,753.82 $2,737.37 $2,720.81 $2,704.16 $2,687.41 $2,670.55 $2,653.59 $2,636.54 $2,619.37 $2,602.11 $2,584.74 $2,567.26 $2,549.68 $2,531.99 $2,514.20 $2,496.30 $2,478.29 $2,460.17 $2,441.94 $2,423.61 $2,405.16 $2,386.60 $2,367.92 $2,349.14 $2,330.24 $2,311.23 $2,292.10 $2,272.86 $2,253.50 $2,234.02 $2,214.0 $0.00 $0.00 $0.00 $0.00 $0.00 so.oo $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 .SO. 00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ·$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 so.oo $0.00 so.oo $0.00 $502,121.33 $499,677.80 $497,219.51 $494,746.36 $492,258.27 $489,755.15 $487,236.91 $484,703.45 $482,154.69 $479,590.53 $477,010.88 $474,415.64 $471,804.72 $469,178.03 $466,535.47 $463,876.94 $461,202.35 $4!>8,511.60 $455,804.55 $453' 081.23 $450.341.42 $447,585. OS $444,812.03 $442,022.26 $439,215.63 $436,392.04 $.:33,551.40 $430,693.59 $427,818.52 $424,926.08 $422.016.16 $419,088.66 $416,143.47 $413,180.49 $410,199.61 $407,200.72 $404,183.71 $401, H8 .47 $398,094.90 $395' 022.88 $391,932.30 $388,823.04 $385,695.00 $382,548.06 $379,382.11 $376,197.03 $372,992.71 $369,769.03 $366,525.87. $363,263.12 96 97 98 99 100 101 102 103 104 lOS 106 107 106 109 llO 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 HO 141 142 H3 144 HS Jul-2003 Aug-2003 Sep-2003 Oct:-2003 Nov-2003 Dec-2003 Jan-2004 Feb-2004. Mar-2004 Apr-2004 May-2004. Jun-2004 Jul-2004 Aug-2004 Sep-2004 Oc::-2004 Nov-2004 Dec-2004 Jan-2005 Feb-2005 Mar-2005 Apr-2005 May-2005 Jun-2005 Jul-2005 Aug-2005 Sep-2005 Oct:-2005 Nov-2005 Dec-2005 Jan-2006 Feb-2006 Mar-2006 Apr-2006 May-2006 Jun-2006 Jul-2006 Aug-2006 Sep-2006 Oc::-2006 Nov-2006 Dec-2006 Jan-2007 Feb-2007 Mar-2007 Apr-2007 May-2007 Jun-2007 Jul-2007 Aug-2007 LIB.WQ! 07-Jul-95 7.25\' 7.25% 7.25\' 7.25% 7.25% 7.25\' 7.25% 7.25% 7.25% 7.25\' 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7. 25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25\: 7.25'1: $5,477.18 $5,4.77.18 $5,477.18 $5,4.77.18 $5,477.18 $5,477.U $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.i8 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 SS,477.l8· $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $3,282.47 $3,302.30 $3,322.25 $3,342.32 $3,362.51 $3,382.83 $3,403.27 $3,423.83 $3,444.51 $3,465.32 $3,486.26 $3,507.32 $3,528.51 $3,549.83 $3. 571.28 $3,592.85 $3,614.56 $3,636.40 $3,658.37 $3,680.47 $3,702.71 $3,725.08 $3,747.58 $3,770.23 $3,793.00 $3,815.92 $3,838.98 $3,862.17 $3,885.50 $3,908.98 $3,932.59 $3.956.35 $3,980.26 S-<.004.30 S-<.028.50 $4,052.84 $4,077.32 $~.101.96 $4,126.74 $4,151.67 $4,176.75 $4,201.99 $4,227.38 $4,252.92 $4,278.61 $4,304.46 $~.330.47 $4,356.63 $4,382.95 $4,409.43 $2,194.71 $2,174.88 $2,154.93 $2,134.86 $2,114.67 $2,094.35 $2,073.91 $2,053.35 $2,032.67 $2,011.86 $1,990.92 $1,969.86 $1,948.67 $1,927.35. $1,905.90 $1,884.33 $1,862.62 $1,840.78 $1,818.81 $1,796.71 $1,774.47 $1,752.10 S1,i29.60 $1,706.95 $1,684.18 $1,661.26 $1,638.20 $1,615.01 $1,591.68 $1,568.20 $1,544.59 $1,520.83 $1,496.92 $1,472.88 $1,448.68 $1,424.34" $1,399.86 $1,375.22 $1,350.44 $1,325.51 $1,300.43 $1,275.19 $1,249.80 $1,224.26 $1,198.57 $1,172.72 $1,146.71 $1,120.55 $1, 094.23 $1,067.75 $0.00 so.oo so.oo $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 so.oo $0.00 $0.00 $0.00 so.oo $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 so.oo $0.00 $0.00 so.oo $0.00 $0.00 $0.00 $0.00 so.oo $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 so.oo $0.00 $359,980.65 $356,678.35 $353,356.10 $350,013.78 $346,651.27 $343,268.44 $339,865.17 $336' 441.34 $332,996.83 $329,531.51 $326,045.25 $3~2.537.93 $319,009.42 $315,459.59 $311,888.31 $308,295.46 $304,680.90 $301,044.50 $297,386.13 S293,i05.66 $290,002.95 $286,277.87 $282,530.29 $278,760.06 $274,967.06 $271,151.14 $267,312.16 $263,449.99 $259,564.49 $253,555.51 $251,722.92 $247,766.57 $243,786.31 $239,782.01 $235,753.51 $231.700.57 $227,623.35 $223 '521. 39 $219,394.65 $215,242.98 $211,066.23 $206,864.24 $202,636.86 $198,383.94 $194,105.33 $189,800.87 $185.470-.4 0 $181,113.77 $176,730.82 $172,321.39 ( l.4 6 1.47 148 149 150 151 152 153 154 155 156 157 158 159 16 0 161 162 163 164 165 166 167 168 16 9 170 171 172 173 174 175 176 177 178 179 :!..80 Sep-2007 Oc:t:-2007 Nov-2007 Dec:-2007 Jan-2008 Feb-2008 Mar-2008 Apr-2008 May-2008 Jun-2008 Ju1-2008 Aug-2008 sep-2ooe Oc:t-2008 Nov-2008 Dec:-2008 Jan-2009 Feb-2009 Mar-2009 Apr-2009 May-2009 Jun-2009 Jul-2009 Aug-2009 Sep-2009 Oc:t-2009 Nov-2009 Dec:-2009 Jan-2010 Feb-2010 i-tar-2010 Apr-2010 May-2010 Jun-2010 Jul-2010 LIS.WQ! 07-Jul-95 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% $5,477.18 $5,477.19 $5,477.18 $5,477.18 $5,477.19 $5,477.18 $5,477.1.8 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.19 $5,477.18 $5,477.19 $5,477.18 $5,477.19 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.18 $5,477.19 $5,477.18 $5,477.18 $5,476.30 $4,436.07 $4,462.87 $4,489.84 $4,516.96 $4,544.25 $4,571.71 $4,599.33 $4,627.12 $4,655.07 $4,683.20 $4,711.49 $4,739.95 $4,768.59 $4,797.40. $4,826.39 $4,855.55 $4,884.88 $4,914.39 $4,944.09 $4,973.96 $5, OO•L 01 $5,034.24 $5,064.55 $5,095.25 $5,126.04 $5,157.01 $5,188.16 $5,219.51 $5,251.04 $5,282.77 $5,314.69 $5,346.80 $5,379.10 $5,411.60 $5,443.41 $1.,041.11 $1,014.31 $987.34 $960.22 $932.93 $905.47 $877.85 $850.06 $822.11 $793.98 $765.69 $737.23 $708.59 $679.78 $650.79 $621.63 $592.30 $562.79 $533.09 $503.22 $473.17 $442.94 $412.53 $381.93 $351.14 $320.:7 $289.02 $257.67 $226.14 $194.41 $162.49 $130.38 $98.08 S65 .sa $32.89 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 .so. 00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $167,885.32 $163,422.45 $158,932.61 $154,415.65 $149.871.40 $145,299.69 $140,700.36 $1.36,073.24 $131,418.17 $126,734.97 $122,023.48 $117,283.53 $112,514.94 $107,717.54 $102,891.15 $98,035.60 $93,150.72 $88,236.33 $83.292.24 $78,318.28 $73. 314.27 $6S,280.03 $63,215.36 $58,120.13 $52,994.09 $47,837.08 $42,648.92 $37,429.41 $32,178.37 $25,895.60 $21.580.91 $16.234 .ll $10,855.01 $5,443.41 $0.00