2001-377-Resolution No. 2001-027 Recorded 4/13/2001VOL: CJ2001 PAGE: 377
RECORDED DOCUMENT
STATE OF OREGON
COUNTY OF DESCHUTES
*CJ2001-377 * Vol -Page Printed: 04/26/2001 14:48:48
DO NOT REMOVE THIS CERTIFICATE
(This certificate constitutes a part of the original instrument in accordance with
ORS 205.180(2). Removal of this certificate may invalidate this certificate and affect
the admissibility of the original instrument into evidence in any legal proceeding.)
I hereby certify that the attached instrument was received
and duly recorded in Deschutes County records:
DATE AND TIME:
DOCUMENT TYPE:
Apr. 13, 2001; 11:41 a.m.
Resolution (CJ)
NUMBER OF PAGES: 1
MARY SUE PENHOLLOW
DESCHUTES COUNTY CLERK
KEY CHE
APR?2001
(1,"JJ01-.y77 RrID
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES UWN�WWON
x� +�
A Resolution of Deschutes County Authorizing
the Reimbursement of Expenditures with a
Future Issue of Obligations.
RESOLUTION NO. 2001-027
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DF§CFMTES
COUNTY, OREGON, as follows:
Section 1. Deschutes County, Oregon (the "Municipality"), expects to make expenditures
from its available funds to pay for the costs of the Fairgrounds Parking Expansion Project (the
"Project").
Section 2. The Municipality reasonably expects to enter into a loan agreement with the
Oregon Economic Development Department or to issue bonds or other obligations (the
"Reimbursement Obligations") and to use the proceeds of the Reimbursement Obligations to reimburse
the Municipality for the expenditures it makes from its available funds for the Project. The
Municipality also understands that the State of Oregon may issue bonds to fund any loan that the
Oregon Economic Development Department makes to the Municipality to pay for the costs of the
Proj ect.
Section 3. To permit interest on the Reimbursement Obligations and any bonds to be issued
by the State of Oregon for Project costs to be excludable from gross income, the Internal Revenue
Code of the United States requires that the Municipality declare its intent to reimburse itself from
Reimbursement Obligation proceeds prior to the date on which expenditures are made or at least 60
days after the expenditures are made.
Section 4. The Municipality expects that the amount of Project costs to be reimbursed with
the proceeds of the Reimbursement Obligations or any bonds to be issued by the State of Oregon is not
in excess of $1,000,000.00.
DATED this 11th day of April, 2001.
ATTEST:
$a
Recording Secretary
PAGE 1 - RESOLUTION NO. 2001-027
BOARD OF COUNTY COMMISSIONERS FOR
DESCHUTES COUNTY, )REGON
Commissioner