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JEFFERSON COUNTY
STATE OF WASHINGTON
In the Matter of Full Repayment
of Loan; The Hotel/Motel Tax Fund
to the Jefferson County Current
Expense Fund
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RESOLUTION NO. 114-93
WHEREAS, on March 16, 1992 it was determined that the financial condition
of the Hotel/Motel Tax Fund would preclude the payment of allocated funding for
organizations approved to receive funds for tourism promotion activities; and,
WHEREAS, through Resolution No. 20-92 a loan from the Jefferson County
Current Expense Fund of $40,000.00 was approved so that the public welfare, convenience and
uninterrupted public services could be provided; and,
WHEREAS, the repayment of the loan was to include interest of 3% per annum
and be made as the Hotel/Motel Tax Fund accrues sufficiently to make at least a $5,000
payment; and
WHEREAS, after review of the Hotel/Motel Tax Fund balance, it has been
determined that there are sufficient funds available to allow repayment of the remaining
$20,000.00 of the original amount borrowed, and still leave enough in the fund to provide
allocated payments for the first quarter of 1994.
NOW THEREFORE BE IT RESOLVED, by the Board of County Commissioners
that the County Treasurer be, and she is hereby authorized and empowered, to transfer twenty
thousand dollars ($20,000) plus interest in the amount of five hundred ninety dollars and
14/100 ($590.14) from the Hotel/Motel Tax Fund No. 125-000-010 to the Jefferson County
Current Expense Fund as full re-payment of the loan made per Resolution No. 20-92.
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APPROVED AND SIGNED this I~¿) day of. ,. ,-' fI¡L!y....V¿, 1993.
SEAL:
VOL
ATIEST:
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Lorna L. Delaney,
Clerk of the Board ,