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Income
<br />Over the past ten years, per capita income in the County has been lower than that of the state as a ~~ hole, as noted 'ui the
<br />table below. Personal income includes wages and sala-ies, other labor-related income (such as employer contributions
<br />to pension funds), proprietors' income, rental income, dividends paid by corporations, interest income from all sources,
<br />and transfer payments (such as pensions and welfare assistance).
<br />TABLE 21- MARION COUNTY TOTAL & PERSONAL PER CAPITA INCOME
<br /> Marion County State of Oregon
<br />Year Total Personal Per Capita Total Personal Per Capita Income
<br /> Income in Millions Income Income in Millions
<br />1996 $5,435 $20,858 $73,871 $23,111
<br />1995 5,115 19,974 68,880 21,915
<br />1994 4.719 18,779 63,689 20,620
<br />1993 4,451 18,068 59,656 19,651
<br />1992 4,163 17,330 55,776 18,747
<br />Source : U.S. Bureau ojEconomie Analysis
<br />THE TRUSTEE
<br />The Trustee, Norwest Bank Minnesota, National Association, is a national banking association headquartered in
<br />Minneapolis, Minnesota. As of September 30, 1998, the Trustee maintained a capital and surplus of $ 827.2
<br />million, and as of December 31, 1997, held $ 38.1 billion in assets under trust. The Trustee maintains Corporate
<br />Trust o~ces in Maryland, Minnesota, Iowa, Nebraska, Wisconsin, Wyoming, Colorado, Arizona, Texas and New
<br />Mexico.
<br />The parent holding company of the Trustee, the Norwest Corporation ("Norwest") and Wells Fargo &
<br />Company (°Wells") finalized a merger on November 2, 1998 and Wells merged into and with Norwest. The
<br />name of the combined holding company is "Wells Fazgo & Company" and its headquarters is located in San
<br />Francisco, California. The Trustee is one of the banking subsidiaries of the combined holding company.
<br />YEAR 2000 COMPLIANCE
<br />The Year 2000 issue refers to the fact that many computer systems were originally programmed using two digits
<br />rather than four digits to identify the applicable year. When the year 2000 occurs, these systems could interpret the
<br />year as 1900 rather than 2000. Unless hardwaze, system software and applications are corrected to be Year 2000
<br />compliant, computers and devices they control could generate miscalculations and create operational problems.
<br />The County
<br />T'he County has been working for two years to ensure that its computer-related information systems, data and
<br />embedded microchip-controlled systems are year 2000 compliant. For example, the County's entire financial system
<br />is currently being replaced by a year 2000 compliant system which will be operative on January 1, 1999. The
<br />County has also installed a new taxation and assessment system that is fully year 2000 compliant. All departments
<br />in the County are evaluating their risks for yeaz 2000 related failures, identifying mission critical systems, and will
<br />be modifying, renovating or replacing non-compliant systems. The County's year 2000 goal is that there be no
<br />interruption of critical county services as a result of the year 2000 date change.
<br />The Trustee
<br />~ Major initiatives are well underway toward assuring systems are Year 2000 Compliant. Norwest has earmarked $50
<br />million for trust technology enhancements and development over the next five years. Norwest has been addressing
<br />the Year 2000 conversion issue since the mid 1990's, and it officially created a Year 2000 Project Office in
<br />50
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