In order to bolster a specially created solid waste fund, the Lincoln County Board of Commissioners approved moving $400,000 from the Water Special Use fund to support the collection and disposal of solid waste.
District Attorney Daniel Hooge informed commissioners, “how this works is that you have one fund that is the main fund that has the majority of the money, and you can take money from that fund and put it into the account you want to spend out of.”
However, he added, “If you plan on taking from one fund with the idea of paying it back, then it is an inner-fund loan, and that requires approval from the State Department of Taxation and for the board to pass a resolution on a medium-term obligation.”
He said, “A specific term is required to be noted and how much you are paying back every year.”
Terms of the resolution do not necessarily have to put a burden on the county, Hooge explained. “You can set it up anyway you want.”
Publishing the resolution in the newspaper is also required. Commissioner Paul Mathews recommended the Solid Waste Fund would make an annual payment of $50,000 to the Water Special Use Fund, or it could be spread out over a longer time.
After further discussion, commissioners decided to make the terms of the repayment for the long-term closure fund to be $20,000 a year for 10 years beginning next July.
Cory Lytle commented that the “$20,000 is a good, round figure, easy to put on paper” but added there are some other things needed at the landfill, for example, an important piece of needed equipment, that will also take some of the money away from making the loan payment always an easy thing to do, until the cash flow might become better later on and the payments could be restructured.