2003-1333-Resolution No. 2003-119 Recorded 10/21/2003DESCH
TES COUNTY
FICIAL
NANCYUBLANKENSHIP,F000NTY CLERK
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fD COMMISSIONERS' JOURNAL lO/Zl/Z003 1;33;46 AM
*REVIE
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LEGAL COUNSEL III I I I II I II IIII �I II I III I III
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For Recording Stamp Only
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Authorizing the Operations Fund to
Borrow From the Reserves Fund, Providing for * RESOLUTION NO. 2003-119
Repayment, and Directing the District's Treasurer
to Make Appropriate Entries.
WHEREAS, it is necessary that the Operations Fund borrow $200,000 for operations until revenues
from taxes are received; and
WHEREAS, the Reserves Fund has sufficient resources to make a loan to the Operations Fund; now
therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, ACTING AS THE GOVERNING BODY OF THE SUNRIVER SERVICE DISTRICT
as follows:
Section 1. The Sunriver Service District Finance Director is hereby authorized to transfer funds, the
aggregate not to exceed TWO HUNDRED THOUSAND DOLLARS ($200,000) from the Reserves Fund (716)
to the Operations Fund (715).
Section 2. Said loan (principal & interest) is to be repaid to the Reserves Fund no later than
June 30, 2004.
Section 3. Interest shall accrue at the annual earnings rate based on the District's actual earnings rate
and will be paid with the repayment.
Section 4. That the Finance Director is hereby directed to make such entries in the records of the
District for the fiscal year 2003-04 as are necessary to reflect these transactions.
DATED this 4 day of October 2003.
ATTEST:
Recording Secretary
BOARD OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, OREGON
DENNIS R. LUKE, Chai
TOM DEWOLF, Commissioner
AEL AL , Commissioner