48-162-Resolution No. 83-049 Recorded 7/28/1983BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Authorizing the
Loan of $200,000.00 From the
General Fund to the Sheriff's
Law Enforcement, Fund, Pro- * L
Lj
viding For Interest, and * �...i
Requiring Repayment.
►L 2 8 1983
RESOLUTION NO. 83-04kRY SUE PENWLLOVI, CO.. CLERK
WHEREAS, the Sheriff's Law Enforcement Fund has insuffi-
cient cash to cover its obligations for operations prior to the
receipt of anticipated taxes in November, 1983; and
WHEREAS, it is necessary that the Sheriff's Law Enforcement
Fund borrow a minimum of $200,000.00 in order to continue
operations in the current fiscal year; and
WHEREAS, for a short term, the General Fund can provide a
loan to the Sheriff's Law Enforcement Fund; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. That a loan of money from the General Fund to
the Sheriff's Law Enforcement Fund be made in the principal
amount of $200,000.00.
Section 2. That from the date of this Order until repay-
ment, the Deschutes County Treasurer shall charge to Sheriff's
Law Enforcement Fund interest of 10% per annum on the principal
amount of the loan made in Section 1 of this Resolution.
Section 3. That upon the attainment of other short term
financing in a sufficient amount to repay the General Fund, but
not later than the first turnover of tax receipts in November of
1983, the Sheriff's Law Enforcement Fund shall repay the loan of
money made herein to the General Fund with all accrued interest.
Section 4. That appropriate entries be made in Deschutes
County records to reflect the above loan.
1 - RESOLUTION NO. 83-049
Vol- 48 F t�� 1 3
DATED this 9-7-aday of , 1983.
BOARD OF COUNTY COMMISSIONERS
OF DE,SEVU5,ZS COUNTY, .OREGON
ATTEST:
&/J7 � Ak �mA'4�
iRecording Secretary
2 - RESOLUTION NO. 83-049
ALBEY4 A. YOUNG ,,/gha_;�yn
LOIS BRISTOW PRANTE, Commissioner
LAURENCE A. TUTTLE, Commissioner