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RESOLUTION NO.
18-91
A RESOLUTION AUTHORIZING A LOAN FROM THE CAPITAL IMPROVEMENT
FUND TO THE PORT TOWNSEND COMMUNITY CENTER CONSTRUCTION FUND
WHEREAS, the Port Townsend Community Center is being renovated
with a loan from the Farm Home Administration and the monies for
this loan will not be disbursed to the county until the completion
of the project; and,
WHEREAS, Engrossed House Bill No. 248, Section 2, adopted 1971
First Ex. Session, in accordance with the provision of RCW 36.40
permits borrowing when used for a specific purpose, which in this
instance is the completion of the Port Townsend Community Center,
and the amount needed is $175,000; now therefore,
IT IS HEREBY FOUND AND DECLARED that the public welfare,
convenience and the uninterrupted public service provided by the
Port Townsend Communi ty Center proj ect requires this Board of
County Commissioners to proceed in manner and form as herein
determined, and tha t the sum of $175, 000 be borrowed from the
Capital Improvement Fund making the total loan from Capital
Improvement Fund to Port Townsend Community Center Fund $425,000.
The loan to be repaid in full along with an interest payment of 4%
per annum when the loan is disbursed by the Farm Home
Administration.
IT IS HEREBY ORDERED, by the Board of Jefferson County
Commissioners that the County Treasurer be, and she is hereby
authorized and empowered, to transfer the amount of $175,000 from
the Capital Improvement Fund, into the Port Townsend Community
Center Fund.
ADOPTED this ~day of J11 ~)C., 1991
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JEFFERSON COUNTY
BOARD F---COMMISSIONERS
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ATTEST: M
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LORNA L. DELANEY .
Clerk of the Board' ,
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