2008-703-Resolution No. 2008-059A Recorded 7/2/2008VIE D -
LEGAL COUNSEL
DESCHUTES COUNTY OFFICIAL
NANCY BLANKENSHIP, COUNTY
COMMISSIONERS' JOURNAL
IIIIIII IIIIIIIIIIIIIIIIIIIII III
2008-703
CLERKDS Q 2008'103
01/02/2008 08:21:31 RM
For eco m —
BEFORE THE GOVERNING BODY OF THE SUNRIVER SERVICE DISTRICT
A Resolution authorizing the Operating Fund
(715) to borrow from the Reserve Fund (716),
providing for repayment and directing the
District's Finance Director to make appropriate
entries.
* RESOLUTION NO. 2008-059A
*
WHEREAS, it is necessary that the Operating Fund (715) borrow $300,000 for operations until
revenues from taxes are received; and
WHEREAS, the Reserve Fund (716) has sufficient resources to make a loan to the Operating Fund
(715); now therefore,
BE IT RESOLVED BY THE GOVERNING BODY OF THE SUNRIVER SERVICE DISTRICT as
follows:
Section 1. The Sunriver Service District Finance Director is hereby authorized to transfer funds, the
aggregate not to exceed THREE HUNDRED THOUSAND DOLLARS ($300,000) from the Reserve Fund
(716) to the Operating Fund (715).
Section 2. Said loan (principal & interest) is to be repaid to the Reserve Funds no later than June 30,
2009.
Section 3. Interest shall accrue at the annual earnings rate based on the District's actual earning rate and
will be paid with the repayment.
Section 2. That the Finance Director is hereby directed to make such entries in the records of the
District for the fiscal year 2007-2008 as are necessary to reflect these transactions.
DATED this !L�day of 2008.
GOVERNING BODY OF THE SUNRIVER SERVICE
ATTEST:
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Recording Secretary
PAGE 1 of 1- RESOLUTION NO. 2008-059
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