40-721-Order Recorded 10/13/1981F / L
vJL 40 PA.UGE 21
c~f!~~ r~ r98
TN THE BOARD OF COUNITY COMMISSIONERS OF THE STATE OF OREGON ROS&wq J
FOR DESCHUTES COUNTS' U~CHUT£S COl PA T; SON
_r C
In -t.he Matter of Proceedings of
the SEVENTH MOUNTAIN COUNTY 1 ORDER. ESTABLISHING TRUST FUND
SEWIC.E DISTRICT )
This matter came before the regular term of the Board
of County Commissioners for Deschutes County, actinc_, as the governing body
of the :seventh Mountain County Service District, on September 2 ? , 1981.
WHEREAS :
1. Pursuant to the District's Ordinance Spreading Assessment:, owners within
the District have paid their assessments partly or in full.
2. It is in the best _nterest of the District that these funds should draw
interest until they are needed to retire, the District's outstanding issue
of M-ani,.ipal Improvements Warrants at the time the proceeds from the District's
forthcoming bond issue pursuant to the Bancroft Bondi=ng Act are received; and
3. The County Treasurer is authorized to hold funds for special distrIcts in
trust and invest the funds therein in obligations of N~itional Barks;
NOW THEREFORE, IT IS ORDERED that:
1,. The Deschutes County Treasurer shall receive the payments of the District's
assessment levied by the ordinance Spreading Assessment dated August 12, 1981,
in trust fcr the District.;
2. The: County Treasurer is authorized to invest such funds in such i.nv~istments
as ar,;! authorized to fiduciary accounts under Oregon law at the maximum interest
available to County trust funds, and to co-mingle the District.'s funds with
other trust fu<<ds of the County; and
3. The County Treasurer shall disburse to the order of the District jpon request
of its governing body all funds received rom the District in trust pursuant to
this order toget=her with interest earned thereon --'n the investments chosen by
the County Treasurer from. among those authorized by law, and in computing the
interest earned, the County Treasurer shall use the average monthly balances of
District, trust funds invested ti--ties the rate of return on the pooled trust funds
of '--he County.
DATED: Septeulbe r 1981
DISTRIBUTION:
County Treasurer
District Engineer
Louis B. Dvorak, Counsel
BOARD OF COUNTY COMMISSIONERS
acting as the governing body of the
S=~.vent untain County Serv'ce District
RCIB ERT CA~ A ON; JR. , QhairMovm ~1y
CLAY C. ARD, CoMmG issia
ALBERT A. YOUNG,//( m-nissic