2003-1202-Resolution No. 2003-102 Recorded 8/27/2003REV ED DESCHUTES COUNTY OFFICIAL RECORDS CJ 2003.1202
NANCY BLANKENSHIP, COUNTY CLERK
�drCt COMMISSIONERS' JOURNAL 08/17/2003 04;37;45 PM
LEGAL COUNSEL 111111111
121210112
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BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Authorizing a Capital Loan for
the Acquisition of Personal Property in the
Amount of $240,000, to the Information
Technology Reserve Fund from the Insurance
Fund, Providing for Repayment, and
Directing the County Treasurer to Make
Appropriate Entries.
* RESOLUTION NO. 2003-102
WHEREAS, it is necessary that the Information Technology Reserve Fund borrow $240,000 as a
capital loan for the acquisition of personal property; and
WHEREAS, the Insurance Fund has sufficient resources to make a loan to the Information
Technology Reserve Fund; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. That the Deschutes County Finance Director is hereby authorized to transfer funds, the
aggregate not to exceed TWO HUNDRED FORTY THOUSAND DOLLARS ($240,000) from the Insurance
Fund (670) to the Information Technology Reserve Fund (661).
Section 2. Said loan (principal & interest) is to be repaid to the Insurance Fund in three separate
payments, September 1, 2004, September 1, 2005, and September 1, 2006.
Section 3. Interest shall accrue at an annual earnings rate based on the County's actual earnings rate
and will be paid with the annual installment.
Section 4. That the Treasurer is hereby directed to make such entries in the records of the County for
the fiscal year 2003-04 as are necessary to reflect these transactions.
PAGE 1 of 2 -RESOLUTION NO. 2003-102 (8/27/03)
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DATED this nth day of August, 2003.
ATTEST:
(Fawc� 1��-
Recording Secretary
PAGE 2 OF 2 - RESOLUTION NO. 2003-102 (8/27/03)
BOARD OF COUNTY COMMISSIONERS
OF DESCH ES COUNTY, OREGON
DENNIS R. LUKE, Chair
TOM DEWOLF, Comm' sioner
MICHAEL M. DALY, Commissioner
