1999-736-Resolution No. 99-037 Recorded 5/27/1999VOL: CJ1999 PAGE: 736
RECORDED DOCUMENT
STATE OF OREGON
COUNTY OF DESCHUTES
*CJ1999-736 * Vol -Page Printed: 06/07/1999 08:23:17
DO NOT REMOVE THIS CERTIFICATE
(This certificate constitutes a part of the original instrument in accordance with
ORS 205.180(2). Removal of this certificate may invalidate this certificate and affect
the admissibility of the original instrument into evidence in any legal proceeding.)
I hereby certify that the attached instrument was received
and duly recorded in Deschutes County records:
DATE AND TIME:
DOCUMENT TYPE:
May. 27,1999; 1:59 p.m.
Resolution (CJ)
NUMBER OF PAGES: 1
MARY SUE PENHOLLOW
DESCHUTES COUNTY CLERK
KF&u' 'C1iED
J a.] - r 1999
f1lq�q- Ilk REVI WED
MW COUNSEL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY,
99 MY 27 R
A Resolution Authorizing the Borrowing * V�ti iULLCjV
of $800,000 by the Fairgrounds Construction * MAR COUNTY CLERK
Fund from Solid Waste Capital Projects Fund,
Providing for Repayment, and Directing the
County Treasurer to make Appropriate Entries.
RESOLUTION NO. 99-037
WHEREAS, it is necessary that the Fairgrounds Construction Fund borrow $800,000 to
cover project expenses until the sale of southerly portion of the old fairgrounds is closed; and
WHEREAS, the Solid Waste Capital Projects Fund has sufficient resources to make a
loan to the Fairgrounds Construction Fund in the amount of $800,000; now, therefore
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. That the Deschutes County Treasurer is hereby authorized to transfer EIGHT
HUNDRED THOUSAND DOLLARS ($800,000) from the Solid Waste Capital Projects Fund
(33) to the Fairgrounds Construction Fund (56), to be used for expenses for the construction of
the new Deschutes County Fairgrounds.
Section 2. The principal of the loan, together with interest from the date of the loan until
repaid at five and one-half percent (5.5%) per annum, is to be repaid to the Solid Waste Capital
Projects Fund in the fiscal year 1999-2000, immediately upon receipt of sufficient cash within
the Fairgrounds Construction Fund to allow repayment.
Section 3. That the Treasurer is hereby directed to make such entries in the records of the
County for the fiscal years 1998-99 and 1999-2000 as are necessary to reflect these transactions.
DATED this 26th day of May, 1999.
ST:
Recording Secretary
1 - RESOLUTION NO. 99-037 (5/26/99)
BOARD OF COUNTY COMMISSIONERS
OF
LINDA L.
T.
R. LUKE,
OREGON
Chair