1990-06896-Resolution No. 90-022 Recorded 3/15/1990so -044906 '1 2 4 REVIEWED LEGA OUNSEL BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, UliUIV' A Resolution Ratifying and Approv- * ing Resolution No. 90 -009, and Calling a Special Election to Submit to the Voters the Question * of Contracting a General Obliga- * tion Bonded Indebtedness in the Amount of Not More Than $9,243,260 * to Finance Libraries. RESOLUTION NO. 90 -022 %S. To CO WHEREAS, the Board of County Commissioners of Deschutes County, Oregon (hereinafter referred to as "County "), has deter- mined that there is a need to acquire real and personal property, construct, reconstruct, expand, furnish and equip library facili- ties within Deschutes County (hereinafter referred to as "Project "); and WHEREAS, the costs of the Project are estimated to be not more than $9,243,260; and WHEREAS, a hearing was held on March 14, 1990, in accordance with Resolution No. 90 -010, after notice of hearing, published on February 28 and March 7, 1990; and public testimony was received from all interested persons on the decision to submit the ques- tion of issuing general obligation bonds in the amount of $9,243,260 to the qualified voters of Deschutes County, Oregon; now, therefore, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON, as follows: Section 1. That Resolution No. 90 -009 is hereby ratified and approved. Section 2. A special election is hereby called for the purpose of submitting to the qualified voters of the County the question of contracting a general obligation bonded indebtedness in the name of the County in a sum not more than $9,243,260. Bond proceeds will be used to finance costs of the Project and pay all costs incidental thereto. The bonds shall mature over a period of not more than fifteen (15) years. This Resolution to take effect after the hearing to be conducted pursuant to ORS 287.055 Section 3. The special election hereby called shall be held in the County on the 15th day of May, 1990, the state -wide primary election. 1 - RESOLUTION 90 -009 luu 1125 Section 4. Form of Ouestion. At the special election on the question of contracting a general obligation bonded indebted- ness, the following measure shall be submitted: CAPTION: Deschutes County General Obligation Library Bonds. QUESTION: Shall the county be authorized to contract a general obligation bonded indebtedness in the amount of not more than $9,243,260? EXPLANATION: This measure, if approved, authorizes the county to issue up to $9,243,260 of bonds. The bonds would provide funds to acquire property, con- struct, reconstruct, expand, furnish and equip library facilities in Bend, LaPine, Redmond Sisters, and pay related costs. Bond maturity would be up to fifteen years. The estimated tax cost is 33 cents per thousand dollars assessed value. The estimated tax cost for this measure is an ESTIMATE ONLY based on the best information available from the county assessor at the time of estimate. Section 5. Notice. The county clerk shall give notice of the election as provided in the general election laws. Section 6. Filing. Immediately following passage, this Resolution shall be filed with the Deschutes County Clerk. DATED this r"h day of , 1990. T ST: (17 /WW2 ecording Secretary 2 - RESOLUTION 90 -009 BOARD OF COUNTY COMMISSIONERS OF DESC TES COUNTY, OREGON AltrAor :4 A5: LOIS 1 TOM'TH OP, D MA LI1OreLissioner TOW P TE, Commissioner