1995-44160-Resolution No. 95-157 Recorded 12/21/1995BEFORE THE BOARD OF COUNTY COMMISSIONERS FOR DESCHUTES COUNTY, OREGON
A Resolution Authorizing a Loan * ., ,�<- ,�
from Deschutes County General Fund * 9v= Lr'JE PN 2' 0-0
to the Deschutes County 9-1-1
County Service District.
RESOLUTION NO. 95-157 148--17-06
WHEREAS, the Deschutes County 9-1-1 County Service District is
selling two RISC 6000 Computers to Benton County; and
WHEREAS, the computers were subject to a lease purchase agreement
with IBM Corporation, and it is necessary to settle the obligations
owing IBM Corporation and pay off the lease purchase agreement; and
WHEREAS, the Deschutes County 9-1-1 County Service District has
insufficient appropriation in the current fiscal year budget to pay all
of the amounts necessary to cancel the IBM Corporation lease purchase
agreement; and
WHEREAS, the Board of County Commissioners of Deschutes County,
Oregon finds it in the public interest to loan, subject to non -
appropriation of funds by the District the amount of $35,310.00 to be
paid directly to IBM Corporation as consideration to cancel the lease
purchase agreement; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS FOR DESCHUTES
COUNTY, OREGON, as follows:
Section 1. That the note attached hereto as Exhibit "A" be hereby
approved for the purpose of loaning $35,310.00 to the Deschutes County
9-1-1 County Service District. This Resolution shall constitute
authorization to loan the above amount in accordance with the terms of
the note.
DATED this 20th day of December, 1995.
BOARD OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, OREGON
H. ST..kUGHTER,%Chairman
AT T: NANCy7PO E SIHLANGEN, Commiso'ioner
Recording Secretary R ERT L. NIPPER Commissioner
PAGE 1 - RESOLUTION 95-157 (12-20-95) r i'`f'
1995
r
EXHIBIT "A"
PROMISSORY NOTE
Parties
Promisor: DESCHUTES COUNTY 9-1-1 COUNTY SERVICE DISTRICT, a
municipal corporation (District)
Promisee: DESCHUTES COUNTY, a political subdivision of the
State of Oregon (County)
Agreement. Deschutes County 9-1-1 County Service District,
a municipal corporation organized and operating under the laws of
the State of Oregon, Promisor, hereby promises to pay to
Deschutes County, a political subdivision of the State of Oregon,
the principal sum of Thirty -Five Thousand Three Hundred Ten and
No/100 Dollars ($35,310.00), together with interest at six
percent (6%) per annum from the date of this Note until paid.
The principal amount of this Note and the interest is due and
payable not later than November 30, 1996.
Promisor may prepay at any time without penalty.
Non -Appropriation. In the event sufficient funds shall not
be appropriated for the payment of the principal amount and
interest accruing under the terms of this Promissory Note, and if
District has no funds legally available for consideration from
other sources, then District may extend the term of this Note
from time to time until all principal and interest accruing is
paid in full. If the principal and interest accruing under this
1 - PROMISSORY NOTE
0148 -IMS
Note is not paid within five years from the date of the Note, the
Note and all obligations thereunder shall be cancelled.
DATED this 20th day of December, 1995.
PROMISOR: BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, ACTING
AS THE GOVERNING BODY OF THE
DESCHUTES COUNTY 911 COUNTY SERVICE
Bar,Fy H. Slaughter, A Chairman
AT T: Nancy poV
1
4,1121L, XT-�
ecording Secr tary Rob �kt L. N
2 - PROMISSORY NOTE
Langan, Commissioner
�r, C issioner