2008-44-Resolution No. 2008-008 Recorded 1/25/2008COUNTY
TES
FICIAL
REVIEWM NANCYUBLANKENSHIP,PCOUNTY CLERKDS vd 2008044
4� COMMISSIONERS' JOURNAL 01/2512008 01;45;54 PM
LEGAL COUNSEL V I ( I II I I (III it I I II I IIII I III
2008-44
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Authorizing a Loan to Acquire and
Remodel Real Property.
RESOLUTION NO. 2008-008
WHEREAS, it is necessary that the Jamison Acquisition & Remodel Fund borrow $3,160,000 as a loan
to acquire and remodel real property; and
WHEREAS, the General Fund has sufficient resources to make a loan to the Jamison Acquisition &
Remodel Fund; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. That the Deschutes County Finance Director is hereby authorized to transfer funds, the
aggregate not to exceed THREE MILLION ONE HUNDRED SIXTY THOUSAND DOLLARS ($3,160,000)
from the General Fund (001) to the Jamison Acquisition & Remodel Fund (457).
Section 2. Said loan (principal and interest) is to be repaid to the General Fund (001) with resources
from long term external financing.
Section 3. Interest shall accrue at the County's actual net earnings rate, compounded monthly, and
shall be paid at the time the principal is repaid.
Section 4. That the Treasurer is hereby directed to make such entries in the records of the County for
the Fiscal Year 2008 as are necessary to reflect these transactions.
DATED this
ATTEST:
Recording Secretary
Z�5' rd day of January, 2008.
PAGE 1 OF 1 -RESOLUTION NO. 2008-008 (1/23/08)
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTE-5,COUNTY, OREGON
DY,WS R. LUKE, Chair
TAMMY (BANEY) MELTON, Vice -Chair
MICHAEL M. DALY, Commissioner