SPECIAL MEETING OF THE PUTNAM COUNTY BOARD

MONDAY, MARCH 4, 2019, 5:50 P.M.

A Special Meeting of the Putnam County Board was called to order at 5:50 P.M. on March 4, 2019, in the Board Room at the Putnam County Courthouse in Hennepin, Illinois by Putnam County Board Chairman Steven Malavolti. 

Roll call was taken by the Clerk of the County Board with Sheila Haage, William Holmes, Steven Malavolti, Luke Holly, and Charles Lenkaitis answering.  

This Special Meeting of the Putnam County Board was called to review and discuss a resolution recommended by the Putnam County Board’s Finance Committee.  In order to ensure adequate funding for the general expenses and obligations of the General Fund, it may be necessary for the county to borrow a sufficient amount (short term) to meet the county’s obligations from other special revenue or funds.  The proposed resolution as written will allow for an amount not to exceed $330,000.00 to be borrowed on an as-needed basis from the Highway Federal-Aid Matching Fund in order to meet the general expenses and obligations of the County of Putnam.  Amounts borrowed from the fund mentioned will be repaid at an amount bearing an equal interest rate to the rate the fund is currently earning if any.     

After further discussion, board member William Holmes moved that the board approve the resolution as written which will allow for an amount not to exceed $330,000.00 to be borrowed from the Highway Federal-Aid Matching Fund on an as needed basis.  Board member Luke Holly seconded the motion and the motion was carried on a roll call board vote of 4 ayes, 0 nays, and 0 absent.  The Clerk of the Putnam County Board was direct to process the resolution (Resolution #2019-01).        

At 6:00 P.M., board member Luke Holly moved to adjourn the special meeting.  Board member Sheila Haage seconded the motion and the motion was carried on a board vote of 4 ayes, 0 nays, and 0 absent.  The next Regular Meeting of the Putnam County Board is scheduled for Monday, March 11, 2019, at 5:30 P.M. 

Respectfully submitted, 

DANIEL S. KUHN
Clerk of the Putnam County Board