2003-847-Resolution No. 2003-042 Recorded 5/8/2003REVI WED
LVritiOUNSEL
DESCHUTES COUNTY OFFICIAL
NANCY BLANKENSHIP, COUNTY
COMMISSIONERS' JOURNAL
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CLERKDS Q 2003.847
05/08/1003 08:32:46 AM
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 RESOLUTION NO. 2003-042
for Certain Expenditures.
WHEREAS, the County expects to make expenditures from its available funds to pay for
the costs of the new Covina 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 States 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 $15,000.00; 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 day of , 2003.
BOARD OFUNTY COMMISSIONERS
OF DES,19OTES COUNTY, OREGON
ATTEST:
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Recording Secretary
PAGE 1 - RESOLUTION No. 2003-042
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TOM DEWOLF, COMMISVONER
A/
M C AEL M. DALY, MISSIONER