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OSOLUT REGARDfiNG WTER. Sl M EBTE SS <br />® WHEREAS, t•he Lee County Board of Commissioners <br />authorized loans from the Capital Reserve Fund for the <br />construction of a water system; and <br />WHEREAS, the amount of money loaned is $815,000; and <br />WHEREAS, an additional $67,500 in interest has accrued <br />during the construction phase of the system; and <br />WHEREAS, the Commissioners wish to authorize this <br />interest as a part of the loan; and <br />WHEREAS, the Commissioners desire to set forth a new <br />schedule of payments for, the loan, <br />NOW THEREFORE BE IT RESOLVED BY THE LEE COUNTY BOARD OF <br />COMMISSIONERS: <br />1. THAT the terms on the Water System Loan of $882,500 <br />shall be payable monthly at a rate of 98 for a term <br />not to exceed 40 years. <br />2. THAT a minimum payment per month of $6,807.28 be <br />made from the water system revenues. <br />3. THAT the attached ammortization schedule be adopted <br />® as the accepted payment guide. <br />4. THAT payments on this schedule shall commence <br />during January, 1987 and shall continue monthly <br />thereafter. <br />5. THAT this resolution shall supercede all previous <br />resolutions and shall constitute a statement of <br />debt owed by the Lee County Water System. <br />Adopted this 15th day of December, 1986. <br />Jghn E. Dotterer, Chairman <br />V <br />R.R. Hoyle, C erk <br />S` <br />