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RESOLUTIOR RO. 27-88
PAYBACK 01' LOAN By The Current
Bxpenae Fund TO The County Road
l'und RO. 1360
WHEREAS, the Board of Jefferson County Commissioners signed
Resolution No. 75-87, on the 21st day of September, 1987, to
provide for a loan in the amount of $100,000.00 from the County
Road Fund for the necessary operation of the Current Expense Fund;
and
WHEREAS, said loan from the County Road Fund is to be
repaid in full plus an interest payment of three per cent (3%) per
annum, by September 30, 1990, with no penalty for early
liquidation of said loan; and
WHEREAS, due to there being sufficient monies wi thin the
unencumbered fund balance of the Current Expense Fund to allow
payment in full at this time; now, therefore,
BE IT RESOLVED, by the Board of Jefferson County
Commissioners, that the County Treasurer be, and she is hereby
authorized to transfer the amount of $101,446.58, including
interest for the period of 176 days, from the unencumbered fund
balance of the Current Expense Fund to County Road Fund No. 1360,
thereby repaying the loan initiated on September 21, 1987, in full
with no further obligation.
APPROVED this /t/1;E::. day of March, 1988.
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JEFFERSON COUNTY
BOARD OF COUNTY COMMISSIONRS
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B.G. ªrown, Chairman
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Jerdine C. Bragg .~
Cle~ of the Board'
ATTEST:
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STATE OF WASHINGTON
COUNTY OF JEFFERSON
In the matter of
x
RESOLUTION NO. 75-87
A Resolution Providing x
For a Loan For the x
Necessary Operation of x
The Current Expense Fund x
WHEREAS, the present financial condition of the Current
Expense Fund precludes the operation thereof without borrowing;
and,
WHEREAS, Engrossed House Bill No. 248, Section 1,
adopted 1971 First Ex. Session, in accordance with the provisions
of RCW 36.40, permits borrowing when used for a specific purpose,
which in this instance shall be the necessary operation of the
Current Expense Fund, and the amount needed for the said purpose
is the sum of $ 100,000.00, now therefore,
IT IS HEREBY FOUND AND DECLARED that the public
welfare, convenience and the uninterrupted public service
provided by the Current Expense Fund requires this Board of
County Commissioners to proceed in manner and form as herein
determined, and that the sum of $ lOO,Ooo.OObe borrowed from the
County Road Fund, the same to be repaid in full along with an
interest payment of ~ per cent per annum, by September 30, 1990.
PROVIDED, HOWEVER, that nothing shall prevent the sooner
liquidation of said loan if financially feasible.
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$ 100,000.00
from Road Fund No. 1360, unencumbered balance, into the Jefferson
County Current Expense Fund.
ADOPTED this ~/¢day of /~F:7'n¿~9g'7
JEFFERSON COUNTY
BOARD ~CO SSIONERS
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B. G. Brown, Member
SEAL:
George C. Brown, Member
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Jerdine C. Bragg
Clerk of the Boar
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