1998-29085-Resolution No. 98-070 Recorded 6/11/19989-29085
68 a
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF
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DESCHUTES_LLEC —4V
A Resolution Supporting Bend's Urban Renewal *
Agency's Selection of Option 3 for Collection* ��
of Tax Increment Revenues for Bend's Urban "fl PM 3:56
Renewal Area.
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RESOLUTION NO. 98-070 uh' + GLr-
WHEREAS, Measure 50, adopted by Oregon votes in 1997, set out
three options for collection of tax increment revenues, as set forth
in Oregon Revised Statues 457.435; and
WHEREAS, as required by ORS 457.437, the Bend Development Board,
the Urban Renewal Agency for the City of Bend, consulted with the Bend
City Council regarding selection of an option for collection of tax
increment revenues; and
WHEREAS, the Bend Development Board recommended to the Bend City
Council the use of Option Three for Bends Urban Renewal Area; and
WHEREAS, of the three options for collection of tax increment
revenues, Option Three results in additional tax revenue to
overlapping tax in jurisdictions in a like manner to other development
within the City; and
WHEREAS, the Deschutes County Commissioners concur with the Bend
Development Board that Option Three 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 Three for
collection of tax increment revenues for Bend's Urban Renewal Area.
Section 2. The Board hereby acknowledges that the maximum
indebtedness for Bend Urban Renewal Area will be $21,543,923.
DATED this 10th day of June, 1998, by the Deschutes County Board
of Commissioners.
ATTEST:
Recording Secretary
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MICROFILMED Jfl� 199
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JUL 1 1998