Resolution #15-47: Resolution to Correct an Interest Payment Calculation in the Hardship Payment Plan for Block 142, Lot 8—FIACA Associates

Date of Adoption: October 22, 2015

WHEREAS, Resolution 13-46 was passed creating a Hardship Payment Plan for FIACA ASSOCIATES on November 7th, 2014; and

WHEREAS, that resolution calculated the interest to be added to each payment to be $132.56 was incorrect; and

WHEREAS, the interest should have been $139.95 resulting in each annual payment being $2,005.95 not the $1,998.56 previously indicated.

NOW THEREFORE BE IT RESOLVED by the Commissioners of the Vernon Township Municipal Utilities Authority that FIACA ASSOCIATES’ interest on their annual hardship payments will be $139.95 and their annual payment shall be $2,005.95. The deficit of $7.39 that exists on each of its two payments to date be made up by FIACA ASSOCIATES sending a check to the VTMUA in the amount of $14.78,

AND BE IT FURTHER RESOLVED, that this resolution be attached to Resolution 13-46 resulting in it being amended it to reflect that the remaining hardship payments for 2015, 2016, and 2017 are $2,005.95.