2004-746-Resolution No. 2004-034 Recorded 5/3/2004REVIEW D
r4
LEGAL COUNSEL
DESCHUTES COUNTY OFFICIAL
NANCY BLANKENSHIP, COUNTY
COMMISSIONERS' JOURNAL
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2004-746
RECORDS U 1004')46
CLERK
05/03/2004 04;41;43 PM
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Declaring the County's Intent
to Reimburse Expenditures with the Proceeds * RESOLUTION NO. 2004-034
of Future Tax -Exempt Obligations.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. Deschutes County, Oregon (the "County") expects to make expenditures from its available
funds to pay for the costs of constructing a state police building and a state office building, including the
acquisition of real property for those buildings (the "Projects").
Section 2. The County reasonably expects to issue bonds or other 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 Projects.
Section 3. 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 Obligation proceeds within 60 days after the expenditures are made.
Section 4. The County expects that the principal amount of the Reimbursement Obligations will not
exceed $10,000,000.00. Zk
The foregoing Resolution adopted this.21rth day of April, 2004.
DATED this 28th day of April, 2004.
ATTEST:
C
Recording Secretary
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
BOARD OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, O)EGON
DALY,
TONNEWOLF, Commissioner
ac at4�_t _
DENNIS R. LUKE, Commissioner
PAGE 1 OF I — RESOLUTION NO. 2004-034_ (04/28/2004)
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REIMBURSE EXPENDITURES.DOC