HomeMy WebLinkAbout91-221
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RESOLUTION NO. 91-221
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF MOHA,/'E ACCEPTING A LOAN FROM THE
ARIZONA DEPARTMENT OF TRANSPORTATION
AERONAUTICS DIVISION IN THE AMOUNT OF THREE
HUNDRED THOUSAND DOLLARS FOR THE PURPOSE OF
CONSTRUCTING A 10.500 SQUARE FOOT BUILDING TO
BE USED AS AN INTERIM TERMINAL FACILITY AT THE
LAUGHLIN/BULLHEAD CITY AIRPORT.
WHEREAS, the County of Mohave has applied to the Arizona Department of
Transportation - Aeronautics Division for a loan in the amount of Three Hundred Thousand Dollars
(,$300,000.00) to construct a 10,500 square foot building for the purpose of an interim terminal facility at
the Laughlin/Bullhead City Airport; and,
WHEREAS, the Arizona Department of Transportation - Aeronautics Division has adopted
a Loan Policy Program to fund airport revenue generating projects; and,
WH EREAS, the Arizona Department of Transportation - Aeronautics Division has approved
the loan request from Mohave County in the amount of Three Hundred Thousand Dollars ($300,000.00)
for the purpose of constructing a 10.500 square foot building for an interim terminal building;
WH E R EAS, the County of Mohave proposes to pay 8.1 % interest on the loan for a total
amount of Forty Eight Thousand Six Hundred Dollars ($48,600.00); and
WHEREAS, the County of Mohave proposes to repay the loan within three years,
beginning August, 1992 in an amount not less than One Hundred Thousand Dollars ($100,000.00) per
year, plus accured interest through revenues generated from the Laughlin/Bullhead City Airport;
NOW, THEREFORE BE IT RESOLVED, that the Board of Supervisors of the County
of Mohave does hereby accept the loan offer from the Arizona Department of Transportation - Aeronautics
Division in the amount of Three Hundred Thousand Dollars ($300,000.00);
BE IT FURTHER RESOLVED, that the Board of Supervisors of the County of Mohave
does hereby authorize the Vice Chairman to execute documents in the absence of the Chairman if future
action is taken at an official meeting of the Board of Supervisors; also,
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BE IT FURTHER RESOLVED that the Board of Supervisors of the County of Mohave
does hereby authorize Mohave County Airport Authority, Inc., as the management agency of the
Laughlin/Bullhead City Airport, to act on its behalf in the administration of the loan proceeds.
PASSED, APPROVED AND ADOPTED by the Board of Supervisors of the County of
Mohave, Arizona this 5th day of August, 1991.
MOHAVE COUNTY BOARD OF SUPERVISORS
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Lois J. Hubb a, halrman
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