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RESOLUTION NO. 41-90
A RESOLUTION AUTHORIZING A LOAN FROM THE CURRENT EXPENSE 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 $600,000; now therefore,
IT IS HEREBY FOUND AND DECLARED that the public welfare,
convenience and the uninterrupted public service provided by the Port
Townsend Community Center Project requires this Board of County
Commissioners to proceed in manner and form as herein determined, and
that the sum of $600,000 be borrowed from the Cµrrent Expense Fund,
the same to be repaid in full along with an interest payment of 4% p~r
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 $600,000 from the
Current Expense Fund unencumbered balance, into the Port Townsend
Community Center Fund.
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ADOPTED this I~ day of April, 1990
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ATT ST:
.JEFFERSON COUNTY
BOARD OF COMMISSIONERS
VOL
16 rAG: 00
264