1998-50887-Resolution No. 98-121 Recorded 10/30/1998REVIEWED
169 2156
I _ _.I:Ff; Qt11`lS�L
98-5088''d
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Amending Resolution 98-105 98 OCT 30 PH12: 47
Declaring the County's Intent to Issue R i` Ju% 1"i -- ti-I0L1..0
Obligations to Reimburse the County * COUNTY dERK
for Certain Expenditures.
RESOLUTION NO. 98-121
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY
OREGON that resolution 98-105 is amended to read:
"WHEREAS, the County expects to make expenditures from its available funds to pay
certain costs of the new Health and Human Services Building, and the Becky Johnson
Community Campus and 1031 N.E. Penn Street (together referred to as the "Project"); and
WHEREAS, the County reasonably expects to issue obligations (the "Reimbursement
Obligations") and to use the proceeds of the Reimbursement Obligations to reimburse the
County for the expenditures it makes from its available funds for the Project; and
WHEREAS, to permit interest on the Reimbursement Obligations to be excludable
from gross income, the Internal Revenue Code of the United States requires that within 60 days
after expenditures are made the County declare its intent to reimburse itself from
Reimbursement Bond proceeds; and
WHEREAS, the County expects that the principal amount of the Reimbursement
Obligations will not exceed $2,500,000; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMIVIISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. Deschutes County intends to reimburse all or a portion of the
expenditures it makes for the Project with the proceeds of the Reimbursement Obligations."
DATED this — day of , 1998.
ATTEST:
Recording Secretary
PAGE 1 - RESOLUTION NO. 98-121
BOARD OF COUNTY COMMISSIONERS TOR
P9' HED
IVDA L. SWE EN, Commissioner NOV 1 199��
MICROFILMED
--Te.
NOV 18 1998