1995-21743-Resolution No. 95-095 Recorded 6/23/1995REVIEWED
95-21'7,13
LEGA 0UNSEL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Providing for the * 147 0100
Issuance of "Reimbursement Bonds."
RESOLUTION NO. 95-095 y
WHEREAS, the Board of County Commissioners of Desch Vis:;bounty,
Oregon, also acts as the governing body of the Bend Libt&ry,�County
Service District (the "District") which has been authorize to issue
bonds to finance the construction and equipping of a lib.ra'ry; ;and
WHEREAS, Deschutes County also has authority to ctihstr,,jjct and
operate a library; and r
WHEREAS, Deschutes County may need to advance funds for the
library prior to receipt of bond proceeds from the sale of District
funds; and
WHEREAS, Section 1.103-18 of the Income Tax Regulations
promulgated by the United States Department of the Treasury requires
the Board declare its official intent to issue bonds for the District
and to reimburse Deschutes County for any expenditures made for the
library; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. Deschutes County reasonably expects to issue bonds or
other obligations (the "Reimbursement Bonds") as the governing body of
the District and to use the proceeds of the Reimbursement Bonds to
reimburse the County for the expenditures it makes from its available
funds for the library.
Section 2. Deschutes County expects that the principal amount of
the Reimbursement Bonds will not exceed $7,695,000.
DATED this 23rd day of June, 1995.
BOARD OF COUNTY COMMISSIONERS
OF JJ SCHUTES C NTY�REGON
BP�RY H $`L�UGHTE , Chairman
TES
Recording Secre ary
1 - RESOLUTION 95-095 (6/23/95)
CommiAsioner
L. NIPPER, Commissioner
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