2002-198-Resolution No. 2002-026 Recorded 3/28/2002COUNTY OFFICIAL
MARYHSUE SPENHOLLOW, COUNTYRCLERKS C BONN
COMMISSIONERS JOURNAL 03/28/2002 03;41;33 PM
For Recording Stamp Only
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Declaring the County's Intent
to Issue Obligations to Reimburse the County
for Certain Expenditures.
RESOLUTION NO. 2002-026
WHEREAS, the County expects to make expenditures from its available funds to pay for
the costs of the Gift Road L.I.D. (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 hates requires that the County declare
its intent to reimburse itself from Reimbursement Bond proceeds within 60 days after the
expenditures are made; and
WHEREAS, the County expects that the principal amount of the Reimbursement
Obligations will not exceed $839,000.00; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS 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 9 — day of `\*�� C41-_-- _,2002.
ATTEST:
Recording Secretary
PAGE 1 - RESOLUTION No. 2002-026
BOARD OF COUNTY COMMISSIONERS
OF DESCHUTES JCOUNTY, OREGON
TOM DEWLF, CHAIR
DENNIS R. LUKE, COMMISSIONER
MICHAEL M. DALY, COMMISSIONER