1984-90161-Resolution No. 84-035 Recorded 8/22/1984Va 55 fxCE3I1
REVIEWED
LEG. L /COUNSEL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES WuNIr i.ixnk,un
A Resolution Establishing The *
Bicycle Path Reserve Fund For *
Funds Allocated by the State *
Highway Fund For Bicycle
Paths, and Authorizing
Investments.
IT; 22
RESOLUTION NO. 84 -035
WHEREAS, ORS 366.514 provides that funds from the State
Highway Fund be used in the construction and maintenance of
bicycle paths; and
WHEREAS, not less than one per cent (1 %) of the total amount
of funds received from the Highway Fund must be expended by the
County each fiscal year; and
WHEREAS, ORS 280.100 allows the County to establish a
financial reserve fund for the purpose specified on ORS 280.050.
The annual increments of such funds shall be limited to a period
not to exced ten (10) years; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. That a Bicycle Path Reserve Fund be established
beginning July 1, 1984, and reamining in effect for a period not
to exceed ten (10) years. Said fund shall be maintained by
annual appropriations from the County Road Fund, and shall be no
less than one per cent (1 %) of the total State Highway Fund
Appropriation for Deschutes County each fiscal year.
Section 2. That the Treasurer is authorized and directed to
invest the amounts deposited in Section 1 of this Resolution.
DATED this .` day of (2w-4/
1984.
BOARD./OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, OREGON
ATTEST: j' LOI;. ISTOW PRAWTE, eoi?imissioner
OJ1J?,1t PiAgAx12)21_,
Recording Secretary LAURE E fiUTTL , Commissioner
1 - RESOLUTION NO. 84 -035