1990-27015-Order No. 90-070 Recorded 8/16/1990104 1171
5 01�
BEFORE THE BOARD OF COUNTkM;A?115ERS OF DESCHUTES UNTY, OREGON
An Order Establishing
Treasurer's Trust Fund
and Directing Transfer
of Funds and Investment.
ORDER NO. 90-070
MICRO'St-ME
Sfp 71
WHEREAS, Deschutes County has entered into an amendment to
Community Development Block Grant Program Grant Agreement
No. 85 -314 -ED, providing for the escrow of certain Community
Development Block Grant Program income in a treasurer's trust
account in the amount of $120,000 to be invested in the state
investment pool; and
WHEREAS, the State of Oregon, by and through the Economic
Development Department, shall be authorized to withdraw, on or
after March 31, 1991, any and all amounts in said fund; and
WHEREAS, neither County nor State is authorized prior to
this date to withdraw any such funds,.except on mutual consent of
both parties; now, therefore,
THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY,
OREGON, ORDERS as follows:
Section 1. That the Deschutes County Treasurer shall
establish a Treasurer's Trust Account in the name of Deschutes
County and the Economic Development Department of the State of
Oregon for the purpose of depositing funds in trust pursuant to
that certain amendment to the Community Development Block Grant
Program Grant Agreement, attached hereto and by this reference
incorporated herein.
Section 2. That the Deschutes County Treasurer is autho-
rized to transfer from the revolving loan fund the principal
amount of $120,000 to be deposited in said trust account.
Section 3. That the Treasurer is hereby authorized and
directed to deposit said funds at interest in the state invest-
ment pool in Salem, Oregon, under a separate account.
Section 4. That neither Deschutes County nor the State of
Oregon shall be authorized to withdraw said funds, except on
mutual consent of both parties to the grant agreement prior to
March 31, 1991. On and after March 31, 1991, the State of Oregon
Economic Development Department is hereby authorized to withdraw
funds up to and including all funds in the account pursuant to
said agreement.
ORDER NO. 90-070
104 - 1172
Section 5. After the State of Oregon has exercised its
rights to withdraw funds, if any, from the account, the remainder
shall be returned to Deschutes County.
DATED this 16-01 day of L,&� , 1990.
BOM� OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, OREGON
791�
Recording Secretary
2 - ORDER NO. 90-070
104 " 1173
AMENDMENT TO AGREEMENT
This is Amendment #1 to that certain agreement between the
State of Oregon Economic Development Department ("Department")
and Deschutes County ("County"), dated June 6, 1985, for
Project No. 85 -314 -ED, Consep Membranes, Inc., Revolving Loan
Fund ("Agreement").
The Agreement must be amended because Consep Membranes,
Inc. ("Company") has not created the required number of jobs
for low to moderate income persons as required by the Agreement.
The Agreement is amended as follows:
1. The grant termination date is extended to March 31,
1991.
2. The Company will create 42 full-time, permanent jobs
by March 31, 1991. Any jobs created prior to March 31, 1991
that meet the requirements set out in paragraph 3 hereof shall
be considered to have been created by March 31, 1991.
3. The County shall provide the Department with
quarterly reports of jobs created by the Company. These
reports shall be accompanied by documentation from the Company,
satisfactory to the Department, setting forth the total
employment by job position prior to commencement of the
project, employment attributed to the project, employment
attributed to other activities and total employment. Each new
job attributed to the project shall be accompanied by an
employee reporting form in the form specified by the
Department. Seasonal jobs, defined as those jobs lasting nine
to ten months each year and viewed by the employee as their
primary job, shall be counted as permanent full-time jobs.
Part-time jobs shall be converted into full-time equivalent
jobs by dividing the total hours worked by part-time employees
during the last year by 2,080. At least 51% of all jobs
created must be taken by and made available to low income
persons, using the latest HUD income guidelines.
4. The County shall deposit in a trust fund with the
County Treasurer $120,000 to be invested in the State
Investment Pool. The Department shall be authorized to
withdraw funds from the Treasurer on or after March 31, 1991,
based on the number of full-time, permanent jobs created by the
Company by that date.
5. If the Company has not created 42 full-time, permanent
jobs by March 31, 1991, the Department may withdraw any and all
amounts within the trust fund not to exceed $12,000 for each
job not created as required by the Agreement as amended. Any
amounts remaining in the trust fund after the Agreement is
terminated and the grant closed out shall be returned to the
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104 - 1174
County. If the liability for jobs not created exceeds the
amount in the trust fund, the County shall repay to the
Department, out of funds available in the Deschutes County
Business Loan Fund created in 1983 by County Ordinance No.
83-068, the full liability. In the event the cash available in
the Deschutes County Business Loan Fund is insufficient to
repay the liability in full on March 31, 1991, the Department
agrees to be repaid as loans are repaid to the Deschutes County
Business Loan Fund.
6. The Department shall not issue a default letter to the
County for breach of any term hereunder or any other term of
the Agreement without giving at least 30 days prior written
notice of intent to declare default.
7. In all other respects, including the remedies and
sanctions set forth in the Agreement, the Agreement remains in
full force and effect.
Dated this day of May, 1990.
BOARD OF/COUNTY COMMISSIONERS
OF DESC.]JbTES COUNTY, OREGON
TOM'Tnroopi unair
C&:XA 64or
ick 'MaUdlin, Commissioner
0 i s
Bristow Prante, Commissioner
TE
tary
This amendment is hereby accepted and executed on the date
set forth below.
Dated this day of May, 1990.
WAR: ros
5200Y/6078G
STATE F OIEG ECONOMIC
DEL LAO I I RTMENT
VE MEN D 'A
By:
Tom Fuller, Manager
Business Resources Division
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