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JEFFERSON COUNTY
STATE OF WASHINGTON
In the Matter of Partial Re-payment
of Loan; The Hotel/Motel Tax Fund
to the Jefferson County Current
Expense Fund
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RESOLUTION NO. 131-92
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 half
($20,000.00) of the original amount borrowed, and still leave enough in the fund to
provide allocated payments for the first quarter of 1993.
NOW THEREFORE BE IT RESOL VED, 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 nine hundred sixty five dollars and 70/100 ($965.70) from the Hotel/Motel Tax Fund
No. 125-000-010 to the Jefferson County Current Expense Fund as partial re-payment
of the loan made per Resolution No. 20-92.
BE IT FURTHER RESOLVED, that the balance of the loan will be repaid
as stipulated in Resolution 20-92.
APPROVED AND SIGNED this ,) {,,¡tday ofll.C( Pc""JJ-'('í. , 1992.
SEAL:
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A TIEST:
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JEFFERSON COUNTY
BOARD OF COMMISSIONERS
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