1998-27182-Resolution No. 98-067 Recorded 6/11/19981 6 8 0341 REWVIEWE®
98- 2'718 LE L 0k)NSEL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUN , OREGON
A Resolution Supporting Redmond Renewal
Agency's Selection of Option 1 for $ JUN PP"9: 56
Collection of Tax Increment Revenues in
Redmond's Downtown Urban Renewal Area. * MATR ' uGjs ,„` LOYY
RESOLUTION NO. 98-067 U U N T G L.ER
WHEREAS, Measure 50, adopted by Oregon voters in 1997, set out
three options for collection of tax increment revenues, as set forth
in Oregon Revised Statutes 457.435; and
WHEREAS, as required by ORS 457.437, the Redmond Urban Renewal
Agency consulted with the Redmond City Council regarding selection of
an option for collection of tax increment revenues; and
WHEREAS, the Redmond Urban Renewal Agency recommended to the
Redmond City Council the use of Option One for Redmond's Downtown
Urban Renewal Area; and
WHEREAS, of the three options for collection of tax increment
revenues, option one results in the lowest tax to the taxpayers in
Redmond; and
WHEREAS, the Deschutes County Board of Commissioners concurs with
the Redmond Urban Renewal Agency that option one is a reasonable and
prudent selection for collection of tax increment revenues.
THE BOARD OF COUNTY COMMISSIONERS HEREBY ORDAINS AS FOLLOWS:
Section 1. The Board hereby supports the use of Option One for
collection of tax increment revenues for Redmond's South Airport urban
Renewal Area.
Section 2. The Board hereby acknowledges that the maximum
indebtedness for the South Airport Urban Renewal Area will be
$27,136,719.
DATED this 10th day of June, 1998, by the Deschutes County Board
of Commissioners.
ATTEST:
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Recording Secretary
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3►fida L. Swearingen, --C
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AQCC 09
ED
JUL 01998 JUM 2 1998