2007-843-Minutes for Meeting October 03,1979 Recorded 6/19/2007DESCHUTES
NANCY
COUNTY CLERKOS ~r1 ~Q~~'~~~
COMMISSIONERS' JOURNAL 06/19/2007 11:28:18 AM
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BOARD OF COUNTY COMMISSIOEERS
October 3, 1979 - REMONSTRANCE HEARING - INN OF THE SEVENTH MOUNTAIN
Chairman Shepard opened the hearing on the Inn of the Seventh Mountain at
10:30 as per the agenda. Mr. Howard Rankin,, attorney and Mr. Howard Kraus,
engineer of the project were present. Mr. Rankin asked the Board to extend this
hearing to October 17, 1979 as the construction bids will not be submitted to
until October 15, 1979. The equipment bids are in now and would ask that
this remonstrance hearing be closed until such time as both bids can be examined
by the Board. That way the Board will now precisely how much the contract will
be. If it is in excess of that proposed figure, then it can be rememdied at
that time. Commissioner Young moved that all remonstrance hearings for the
Inn of the Seventh Mountain be continued to October 17, 1979 at 10:00 a.m. in
Conference Room A. Chairman Shepard seconded the motion. Commissioner Paulson
stated that he would not be present on that date. Commissioner Paulson asked
if this hearing had been publicized. Mr. Rankin said that the property owners
had been notified by certified letters but that today's hearing had not been
publicized as Mr. Rankin had asked for a continuance. Mr. Rankin said that he
will advertise the hearing for the 17th of October, 1979. Commissioner Young--
aye. Commissioner Paulson--aye. Chairman Shepard--aye. Motion carried.
Interim financing for the construction facilities was brought up by Mr. Ranking.
He said that the procedure to follow is for the Board to request proposals from
financial institutions for the purchase of limited obligation construction or
improvement warrants. Two-year warrants which may be sold on a negotiated basis
to the banks; banks would buy the warrant and the Board would of course try to
get the lowest possible interest rate to put the money into; money would be used
to pay the contractors; when the proejct is completed the final levy of assessments
would be filed against the property; issue bancroft bonds and those bancroft
money would pay off those warrants. An order was shown to the Board authorizing
Mr. Kraus to obtain proposals for the Board for the purchase of those construction
warrants. Commissioner Young moved to accept the order for interim financing
and instruct Mr. Kraus to proceed to obtain such funds. Commissioner Paulson
seconded the motion. Commissioner Young--aye. Commissioner Paulson--aye. Chair-
man Shepard--aye. Motion carried. This order was entered subject to approval
of counsel. Counsel approved.
There being no further business, the hearing was adjourned.
BOARD OF COUNTY COMMISSIONERS
Z 1411 t / I Z/
CLAY C. PTO, ha' man
ROBERT C. PAULSON, JR., Commissio