1996-04807-Resolution No. 96-018 Recorded 2/1/1996REVIEWED
96-04807
i
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHU-��UN
A Resolution Establishing the CDD
Building Fund and the CDD Building * y` ' µ ' °'' i }
Debt Service/Reserve Fund, Making
Appropriations to the CDD Building
Fund, and Directing the Deschutes * '
County Treasurer to Invest Proceeds*
from the CDD Certificates of
Participation. *.'+�v ,
RESOLUTION NO. 96-018
WHEREAS, Deschutes County has authorized the issuance of
$2,465,000 certificates of participation for the construction of a
new Community Development Building; and
WHEREAS, it is necessary to establish a special fund to account
for revenues and to make appropriations; and
WHEREAS, it is necessary to establish a debt service/reserve
fund to account for the payment of principal and interest on the
Certificates of Participation issued for the CDD Building; and
WHEREAS, it is necessary to invest the proceeds from the
Certificates of Participation; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. That the CDD Building Fund is hereby established.
Section 2. That the CDD Building Debt Service/Reserve Fund is
hereby established.
Section 3. That the following appropriations be made within
the CDD Building Fund in the 1995-96 Deschutes County Budget:
Professional. Services
Office Supplies
TOTAL MATERIALS & SERVICES
Land Acquisition
New Construction
TOTAL CAPITAL OUTLAY
TOTAL CONTINGENCY
1 - RESOLUTION NO. 96-018
85,500
250
$ 85,750
78,000
115,000
$193,000
$ 15,000
t/.iCR0FIL",hED
a
Section 4. That the Deschutes County Treasurer is authorized
and directed to invest proceeds from the CDD Certificates of
Participation.
DATED this .31— day of
AT ST:
7
Recording Secreiary
2 - RESOLUTION NO. 96-018
1996.
RD OF COUNTY COMM
DESCHUCOUNTY OREGON
A. A . 711
, Chair
�l"�
BARRY 2H. SLAUGHTER, Commissioner
n
L. NIPPER, COMMIssloner