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JUN-16-98 TUE 15~39 MARION CTY SOLID WASTE FAX N0, 503 588 3565 P,02 SEFORE THE BOARD OF COMIvIISSIONERS FOR MARION COUNTY, OREGON In the matter of authorizing the loan of ) funds from the Dcpartment of Solid Waste ) Mana~ement to thc Nlarion County ) Geneaal Fund for the Courthouse Square ) Development. ~ RESO~,UTION No. ~~ This matter comes before the Boazd of Commissioners at a regulaz public meeting on Wednesdap, June 10, 1995, fo consider authoriz.~ng ihe loan of funds from the Deparnnent of Solid Waste Management to Fund 105 for the development of Courthouse Squazz. WHEREAS, ORS 294.460 enables the Board of Commissioners to authorize a loan of Solid Waste Management Deparnnent funds to any other fund of the County by resolution; and wHEREAS, the Boazd of Commissioners has preeious(y authorized a loan of up to $S,OOQ000 to che Courthouse Squaze Project pursuant to Resolution No. 97-5912, and the Solid Waste Management Departinent has loaned $700,000 to the Courthouse Square Project, through the Departruent of General Services, as of March 1, 1998; and WHEREAS, the Board of Commissioners finds that the Courthouse Squaze Project was delayed for a lengthy review by a special oversight comuuttee; that the delay set back the scheduie for fina( design, construction bids and construction financing; and that there is a necd to extend the loan authorizarion and to e~rtend the deadline for repsyment of loaned funds into tha 1998-99 fiscal year, in order to meet ongoing financial obligations of the project; now, therefore, BE IT TZESOLVED by the Marion County boazd of Commissioners that the Department of Solid W~te Management is authori7~d to Icnd not more than $5,000,000 to the Counry's general fund for developmenc expenses of thc Courthouse Square Project. BE IT FLJRTHER RESOLVED that Fund 105 will make pa}nnent in fiill, on or before June 30, 1999 of the entire principal amount borcowed for the Courthouse Square Project, pius accrued interest. The interest rate for any funds borrowed after the date of this resolution will RESOLUTION No-