2006-591-Resolution No. 2006-057 Recorded 6/12/2006COUNTY OFFICIAL
TES
REVIE D NANCYUBLANKENSHIP, COUNTY CLERKS Cd 2
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0591
'y COMMISSIONERS' JOURNAL 06112I2046 44;41;04 PM
EGALCOUNSEL 11111111111111111111111111111111
2006-591
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Declaring the County's Intent * RESOLUTION NO. 2006-057
to Reimburse Expenditures with the Proceeds
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 acquiring a building near the public safety complex that is
currently used as the State Farm regional office building (the "Project").
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 Project.
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 $1,250,000.
DATED this ?-- th day of June, 2006.
ATTEST:
6W,� lf�
Recording Secretary
PAGE 1 OF 1 -RESOLUTION NO. 2006-057 (6/12/06)
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTE OUNTY, OREGON
DE IS R. LUKE, Mair
BEV CLARNO, Vice -Chair
M WAL M. DALY, ommissioner
Page 1 of 1
Judi Hasse
From: Susan Ross
Sent: Monday, June 05, 2006 1:08 PM
To: Marty Wynne
Cc: Mike Maier; Judi Hasse; Jeanine Faria
Subject: borrowing resolution
Marty, we're scheduling a closing of the State Farm regional office building near the public safety complex in mid-
September. We will need to have the Board adopt a borrowing resolution so that we can repay the purchase
with a future bond issue. The purchase price is $1,050,000. Please let me know if you have any questions.
Thanks.
Susan Ross
Deschutes County Property & Facilities Director
541-383-6713
541-385-3205 fax
6/5/2006