41-362-Resolution Recorded 1/28/1982VOL
IN THE BOARD OF COUNTY COMMISSIONERS OF THE
•
FOR DESCHUTES COUNTY
�D
ry 28198
STATE OFR ON2
DFSC PeSR), PATTERS
coQNT Y ll*K
In the Matter of Proceedings ) RESOLUTION ADOPTING BUDGET
of the Seventh Mountain ) AND APPROPRIATING FUNDS
County Service District ) FOR FISCAL YEAR 1981-82
SUPPLEMENTAL BUDGET
This matter came on for hearing before the regular term of
the Board of County Commissioners acting as the governing body of the
Seventh Mountain County Service District on January 27, 1982. No member
of the public appeared to comment on the budget. From the record, the
Board finds as follows:
1. This Board acted as the budget committee of the District
pursuant to ORS 294.336(2) in that there were no qualified electors within
the district willing to serve.
2. The budget meeting, at which the budget message and document
were received, was duly noticed by publication in the Bulletin, a newspaper
of general circulation within the District, on December 13, 1981, and
held December 22, 1981. The notice, message and budget document are all
in proper form.
3. The financial summary and notice of budget hearing are in
proper form and were duly published in the Bulletin on January 10, 1982.
The budget message and document were continuously available for inspection
and copies were available to the public on request from and after this
publication date.
4. The budget was fully discussed at the budget meeting, and
is approved by the Board; now therefore, it is hereby
RESOLVED that the attached supplemental budget for the Seventh
Mountain County Service District covering the fiscal year ending June 30,
1982, is adopted. The budget is marked "Exhibit A" and incorporated here
by this reference, and funds are appropriated pursuant to said supplemental
budget as follows:
CAPITAL IMPROVEMENT FUND:
Debt Service $768,897.32
Materials and Services 24,087.86
Transfer to Bond Redemption
Reserve Fund 36,734.07
Total Improvement
Fund Appropriation $829,719.25
BANCROFT BOND REDEMPTION RESERVE FUND:
No appropriation
. VOL 41PAGE 363
Resolution Adopting Budget and
Appropriating Funds for Fiscal
Year 1981-82 Supplemental Budget
Page 2
DATED this __1 day of January, 1982.
BOARD OF COUNTY COMMISSIONERS
sitting as the governing body of the
Seve h ountai County S rvice strict
C. HEPARD, Chairma
ROBER C AUL ON, JR. Commissi r _
ALB RT A. YOUNG, issioner
DISTRIBUTION:
County Clerk
County Treasurer
Howard Kraus, Budget Officer
Louis Dvorak, Counsel
(2) Local Budget Section
Oregon Dept. of Revenue
. F VOL 41PAGE 364
Seventh Mountain County Service District
1
a
Deschutes County, Oregon
Supplemental Budget
Fiscal Year 1981-82
CAPITAL IMPROVEMENT FUND
Beginning Balance -u-
Resources:
0-Resources:
Assessments Paid Outside Bancroft Bonding Proqram $ 45,473.25
Proceeds of Bond Salp 779,246.00
Interest from Investments 5,000.00
Total Resources $829,719.25
Requirements:
Debt Service:
$ 85,717.00
Retirement of Municipal Improvement Warrants
36,734.07
Principal Amount
$600,000.00
Interest on Municipal Improvement Warrants
76,665.80
Repayment of Loan from Inn_of the Seventh
Mountain Assn. of Unit Owners
81,364.55
Interest on Loan from Assn. of Unit Owners
10,866.97
Materials and Services:
-0-
Legal and Professional Fees re Bond Sale
13,000.00
Costs of Bond Sale
B70.00
Administrative Fee to Deschutes County
10,217.86
Transfer to Bancroft Bond Redemption Reserve Fund
36,734.07
Total Requirements
$829,719.25
Unuppropriated Balance
-0-
BANCROFT BOND REDEMPTION RESERVE FUND
Beyinning Balance -0-
Resources:
Assessment Installments
$ 85,717.00
Transfer from Capital Improvement Fund
36,734.07
Interest from Investments
5,357.00
Total Resources
$127,808.07
Requirements:
Debt Service:
Principal Due on Bonds
-0-
Interest Due on Bonds
-0-
Total Requirements
-p-
Unappropriated Balance $127,808.07
EXHIBIT A