1984-90011-Resolution No. 84-049 Recorded 10/3/1984RE VI ED
• ' VOL 56 FACE 8
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
A Resolution Authorizing the *
Loan of $400,000.00 From the *
General Fund to the Sheriff's *
Law Enforcement Levy Fund,
Providing For Interest, and
Requiring Repayment.
RESOLUTION NO. 84 -049
j9 COUNSEL
TY, CTEGON
WHEREAS, the Sheriff's Law Enforcement Levy Fund has insuffi-
cient cash to cover its obligations for operations prior to the
receipt of anticipated taxes in November, 1984; and
WHEREAS, it is necessary that the Sheriff's Law Enforcement
Levy Fund borrow an amount not to exceed $400,000.00 in order to
continue operations in the current fiscal year; and
WHEREAS, for a short term, the General Fund can provide a
loan to the Sheriff's Law Enforcement Levy Fund; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. That a loan of money from the General Fund to
the Sheriff's Law Enforcement Levy Fund to made in the principal
amount of $400,000.00.
Section 2. That from the date of this Resolution until
repayment, the Deschutes County Treasurer shall charge to the
Sheriff's Law Enforcement Levy Fund interest of ten per cent
(10 %) per annum on the principal amount of the loan made in
Section 1 of this Resolution.
Section 3. That upon the attainment of other short term
financing in a sufficient amount to repay the General Fund, but
not later than the first turnover of tax receipts in November of
1984, the Sheriff's Law Enforcement Levy Fund shall repay the
loan of money made herein to the General Fund with all accrued
interest.
Section 4. That appropriate entries be made in Deschutes
County records to reflect the above loan.
1 - RESOLUTION NO. 84 -049
DATED this
ATTEST:
day of
vaL 56 PAGE 888
, 1984.
BOARD OF COUNTY COMMISSIONERS
OF DESCHU ES COUNTY, OREGON
LO
BRISTOW PR
_ _;- 'j47Mi
NTE; Commissioner
Recording Secretary LAURENCE A. TUTTLE, Comm^i5-sioner
2 - RESOLUTION NO. 84 -049