1987-11455-Resolution No. 87-032 Recorded 6/10/1987REV WED
LE; AL COUNSEL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
0083-0644
A Resolution Authorizing the *
Deschutes County Treasurer
To Borrow Monies From Accounts*
Within the Park Dedication
Fund For the 1986 -87 Fiscal
Year, to be Repaid Upon
Receipt of Recreational *
Vehicle Registration Fees, and*
Directing the County Treasurer*
To Make Appropriate Entries. *
KEYPUNCHED
SUN 111981
89- 1145:
RESOLUTION NO. 87 -032
WHEREAS, the Board of County Commissioners has agreed to
purchase certain park property, known as 125 N. W. Lafayette
Street, Bend, Oregon, by the exchange of other real property and
by the expenditure of recreational vehicle registration fees paid
to the County pursuant to ORS 366.512 and deposited in the Park
Dedication Fund; and
WHEREAS, it is necessary to borrow a portion of the interest
earned from accounts within the Park Dedication Fund in an
amount, when added to funds and interest from deposits received
under ORS 366.512, equal to the purchase price of the park
property to be paid in cash; and
WHEREAS, it is necessary that $12,000.00 be borrowed and
placed in the recreational vehicle registration account in order
to purchase said property; 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 interest earned on
the principal of the various accounts within the Park Dedication
Fund, other than the recreational vehicle registration account,
in the principal amount of $12,000.00 be made.
Section 2. From the date of this Resolution until repay-
ment, the Deschutes County Treasurer shall charge the recrea-
tional vehicle registration fee account interest at six per cent
(6%) per annum on the principal amount of the loan outstanding
described in Section 1 of this Resolution.
Section 3. All payments into the recreational vehicle
registration fee account shall be pledged for the repayment to
the other accounts from which the Treasurer has transferred money
in accordance with this Resolution to repay the principal amount
of $12,000.00, plus any accrued interest.
1 - RESOLUTION NO. 87 -032
Section 4. That the appropriate entries
Deschutes County records to reflect the above
DATED this /OA day of 4?(, a----
BOARD OF COUNTY
ATT ST:
4eagiA_
008(?-0645
be made in the
loan.
, 1987.
COMMISSIONERS
OF • I CHUTE: COU TY, O ON
OW PRANT , Chair
LOIS B
TOM
OP, Com
issioner
ecording Secretary CK MA DLIN, Co
2 - RESOLUTION NO. 87 -032
missioner