1995-23343-Resolution No. 83-060 Recorded 9/7/1983i
95-23343
'VOL 49 PACE 979
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Establishing
Tax Anticipation Series 1983
Sinking Fund, Directing
Deposits, and Authorizing
Investments. * S;Ep 7 1983
MARY SUE PENHO! LOW
RESOLUTION NO. 83-060 F;ESCH'UTES COU2v °t CLERK
WHEREAS, Deschutes County will experience a maximum cash
flow deficit, plus one month's expenditure, during the 1983-84
fiscal year in the Sheriff's Law Enforcement Levy Fund of
approximately $845,000.00; and
WHEREAS, the Board of County Commissioners has authorized
the sale of Tax Anticipation Notes in anticipation of the taxes
levied and in the process of collection for the 1983-84 fiscal
year in an amount of not more than the anticipated maximum cash
flow deficit, plus one month's expenditures; and
WHEREAS, it is necessary to establish a sinking fund for
deposit of all monies received by the County from its Sheriff's
serial ad valorem property tax levy for fiscal year 1983-84 until
the sinking fund holds an amount sufficient to pay principal and
interest on the Notes at maturity; and
WHEREAS, it is necessary to establish said sinking fund
prior to the sale of the Tax Anticipation Notes; now, therefore,
BE IS RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. That the Tax Anticipation Series 1983 Sinking
Fund is hereby established.
Section 2. That the Deschutes County Treasurer is directed
to deposit all monies from the Sheriff's Law Enforcement Serial
Levy in said fund until the Sinking Fund holds an amount
sufficient to pay principal and interest of the Tax Anticipation
Series 1983 Notes at maturity.
Section 3. That the Treasurer is authorized and directed to
invest the amounts deposited in Section 2 of this Resolution.
1 - RESOLUTION NO. 83-060
ZZSC95
VOL 49 PAcF 9 ,9
DATED this day of 1983.
BOARD OF COUNTY COMMISSIONERS
OF DESCELUTES COUNTY. OREGON
ATTEST:
7r
Recording Secretary
2 - RESOLUTION NO. 83-060
ALL71J 1 A• V L.�, V itu i y a
LOIK BRIST W P E,.Commissioner
L UR NCE A. TUTTLZ, Commissioner