1998-27183-Resolution No. 98-068 Recorded 6/11/1998168 0342 REV11WE®
98-2'718
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BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES CO , OREGON
A Resolution Supporting Redmond Renewal
Agency's Selection of Option 1 forJul,
Collection of Tax Increment Revenues in * P��$�
Redmond's South Airport Urban Renewal "�W �1$-
Area. * C t1 dl Y Cu,,
RESOLUTION NO. 98-068
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 South Airport
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 of
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
$5,297,837.
DATED this 10th day of June, 1998, by the Deschutes County Board
of Commissioners.
ATTEST:
Recording Secret ry
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JUL 1999