RESOLUTION 2007-65

(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 2006 – 64

1027.000 Cumulative Reserve Loan Fund $500,000.00

1400.000 County Road $238,636.82

Resolution 2007-60

$517,000 Cumulative Reserve Loan Fund $517,000.00

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, and

WHEREAS, Skamania County received $494,325.47 in State Forest Board Transfer revenues and interest;

NOW, THEREFORE, BE IT RESOLVED that the County Treasurer is hereby directed to pay on the 27^th day of December 2007, $494,325.47 in state forest board transfer revenues and in principal and interest as partial payment of the Current Expense Fund’s indebtedness, as follows:

Resolution 2006-64

1400.000 County Road $ 238,636.82

Interest to 12/27/07 13,089.07

$ 251,725.89

1027.000.000 Cumulative Reserve Loan Fund $ 215,099.58

Interest to 12/27/07 27,500.00 $ 242,599.58

Leaving a principle balance on the loans created by Resolution 2006-64 of $284,900.42 from Fund 1027.000 (Cumulative Reserve Loan Fund) and on the loan created by Resolution 2007-60 of $517,000.00 from Fund 1027.000 (Cumulative Reserve Loan Fund) to be repaid with the first available funds.

PASSED IN REGULAR SESSION this 27^th day of December 2007.