A RESOLUTION AUTHORIZING A TRANSFER OF MONIES FROM THE CIC FUNDS MONEY MARKET ACCOUNT TO THE KILLBUCK VILLAGE MONEY MARKET ACCOUNT
WHEREAS, on or about December 16, 2021, the Village of Killbuck entered into a Village of Killbuck Revolving Loan Fund (RLF) Program Loan Agreement with Fringe Hair Lounge, LLC and its guarantors, Erica Gamertsfelder and Mary Anderson;
WHEREAS, the RLF Program is administered by the Killbuck Community Improvement Corporation (CIC);
WHEREAS, pursuant to the Loan Agreement, the Village of Killbuck issued a check (Check No. 21543) in the amount of $30,000.00 to Erica Gamertsfelder from the Killbuck Village Money Market Account with The Killbuck Savings Bank (account number ending in 5188); and
WHEREAS, due to the foregoing payment to Ms. Gamertsfelder pursuant to the RLF Program Loan Agreement administered by the CIC, $30,000.00 should be transferred from the CIC Funds Money Market Account with The Killbuck Savings Bank (account number ending in 5186) to the Killbuck Village Money Market Account with The Killbuck Savings Bank (account number ending in 5188).
NOW THEREFORE BE IT RESOLVED by the Council of the Village of Killbuck, two-thirds or more of the members elected thereto concurring, that:
SECTION ONE: Council hereby authorizes the transfer of $30,000.00 from the CIC Funds Money Market Account with The Killbuck Savings Bank (account number ending in 5186) to the Killbuck Village Money Market Account with the The Killbuck Savings Bank (account number ending in 5188).
SECTION TWO: It is found and determined that all formal actions of this Council relating to the adoption of this Resolution were adopted in an open meeting of the Council, and that all deliberations of this Council and of any of its committees that resulted in such formal action were in meetings open to the public, in compliance with all legal requirements, including Section 121.22 of the Ohio Revised Code.
Passed at a regular meeting of the Killbuck Village Council duly convened with a quorum present this 2nd day of March, 2022.
SIGNATURES ON FILE