RESOLUTION 2005-71

(To repay Current Expense Loans)

 

WHEREAS, the Board of County Commissioners has reviewed the Current Expense Fund’s current indebtedness; and

 

WHEREAS, Resolution 2000-20, (which authorized certain loans), requires that all such debts be reduced by the first available revenues; and

 

WHEREAS, the Current Expense Fund presently has the following indebtedness:

 

            Resolution 2002-58      $392,550.00 plus interest Cumulative Reserve Loan Fund

Resolution 2005-69      $385,000.00 plus interest Cumulative Reserve Loan Fund

            1140.030  Counseling Center – Mental Health              $  90,000

            1021.000  Cumulative Reserve Contingent Liability                   $  75,000

            1023.000  Cumulative Reserve Salary, Wages, and Benefits      $  50,000

            3010.000  Capital Improvement Fund                                       $170,000

 

WHEREAS, RCW 76.12.030(2) requires the County to first apply State Forest Board Transfer revenues to the reduction of any indebtedness existing in the Current Expense Fund; and

 

WHEREAS, The Commissioners have reviewed and considered the Current Expense Fund’s potential and reasonably anticipated future expenditures and revenues, and have determined that there is sufficient revenue available to partially repay the Current Expense Fund’s indebtedness.

 

NOW, THEREFORE, BE IT RESOLVED that the County Treasurer is hereby directed to pay on the 29th 30th day of December, 2005, $380,584.59372,221.87 in state forest board transfer revenues and $245.51236.16 in interest as partial payment of the Current Expense Fund’s indebtedness, as follows:

 

            Resolution 2002-58

            Final payment of Loan to Cumulative Reserve Loan Fund (124.000.000)          $255,178.68

            Interest to 12/2930/05                                                              $  10,179.18        10,207.15

                                                                                                            $265,357.86      265,385.83

            Resolution 2005-69

            Partial payment of Loan to Current Expense Fund (001.000.000)

            1140.030  Counseling Center – Mental Health                                      $ 90,000.00    

            Interest to 12/2930/05                                                              $      135.62              149.18                                                                                                                $ 90,135.62         90,149.18

 

            1021.000  Cumulative Reserve Contingent Liability                   $ 24,892.10        16,434.04    

            Interest to 12/2930/05              (75,000)                                   $      113.02              124.32  

                                                                                                            $ 25,005.12         16,558.36

 

 

 

            1023.000  Cumulative Reserve Salary, Wages, and Benefits                              $           

            Interest to 12/2930/05              (50,000)                                   $        75.34             82.88    

                                                                                                            $        75.34             82.88

3010.000  Capital Improvement Fund                                                               $

            Interest to 12/2930/05              (170,000)                                 $       256.16          281.78  

                                                                                                            $       256.16          281.78

 

Leaving a principle balance on the loans under Resolution 2005-69 to (1021.000 Contingent Liability Fund) of $50,107.9058,565.96; (1023.000 Cumulative Reserve Salary, Wages and Benefits Fund) of $50,000.00; and (3010.000 Capital Improvement Fund) $170,000.00 to be repaid with the first available funds.

 

PASSED IN REGULAR SESSION this 29th 30th day of December 2005.

 

ATTEST:                                                        BOARD OF COMMISSIONERS

                                                                        SKAMANIA COUNTY, WASHINGTON

 

 

                                                                        ___________________________________

                                                                        Chairman

 

 

                                                                        ___________________________________

                                                Commissioner

 

 

_________________________                      ___________________________________

Clerk of the Board                                         Commissioner

 

 

 

APPROVE AS TO FORM ONLY

 

____________________________

Prosecuting Attorney