1995-21744-Resolution No. 95-098 Recorded 6/23/199595-21714 LEG TOUNSEL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNT ,
ACTING AS THE GOVERNING BODY OF THE BEND LIBRARY
COUNTY SE
RVICE DISTRICT
A Resolution Providing for the *'=
Issuance of "Reimbursement Bonds."
RESOLUTION NO. 95-098
WHEREAS, the Board of County Commissioners of Deschu_E'* Canty,
Oregon, acting as the governing body of the Bend Library CouvlY Service
District (the "District") has been authorized to issue bonds to finance
the construction and equipping of a library; and
WHEREAS, Deschutes County also has authority to construct and
operate a library; and
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. Bend Library County Service District 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
OFD UTES COUNqfT, OREGON
B Y H. S UGHTER, C airman
A E T:
Recording Secretary
1 - RESOLUTION 95-098 (6/23/95)
SgPLANGEN, Commisb ner
L. NIPPER, Commissioner
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