14-632-Order Recorded 4/7/1971voL I. 4 �,ArE 6:3?
IN THE BOARD OF COUNTY COMMISSIONERS
OF THE STATE OF OREGON
FOR THE COUNTY OF DESCHUTES
In the Matter )
of ) O R D E R
Establishing Policy For )
Sale of County Lands )
In regard to the sale of Deschutes County land by written
agreement for installment payments, the following schedule will apply:
I. At the time of the request to place County lands up for
auction sale, a deposit of $7.50 shall be made for costs
of publication of description of property for sale and
cost of deed - which shall be refunded if applicant is
an unsuccessful bidder.
2. Buyer may determine terms desired, providing that no less
than ten percent (10%) of the sale price is the initial
down payment.
3. For parcels selling at up to Three Thousand ($3,000.00)
Dollars, buyer may have a maximum of five (5) years in
which to make installment payments.
4. For parcels selling at from Three Thousand ($3,000.00)
Dollars to Ten Thousand ($10,000.00) Dollars, buyer may
have a maximum of ten (10) years in which to make
installment payments.
5. For parcels selling at over Ten Thousand ($10,000.00)
Dollars, the length of installment payment period will
be negotiated by the Board of Commissioners for a period
not exceeding twenty (20) years.
6. All installment contracts will carry an interest rate
of eight percent (8%) on the unpaid balance which is
the true annual interest rate.
7. The County Treasurer shall notify the buyer of the amount
of interest on the contract within ten (10) days of the
auction sale. Upon being notified of the amount of interest,
a successful bidder may within five (5) days of the mailing
of such notice, terminate his agreement and be refunded any
amount of down payment that has been paid to the County.
This Order supersedes Order of October 15, 1969.
Done this 7th day of April, 1971.
BOARD OF COMMISSIO
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