2007-1265-Resolution No. 2007-063 Recorded 6/26/2007DESCH
TES COUNTY OFFICIAL
UBLANKENSHIP, COUNTY CLERK DS YJ 2001'1105
4LGALVIEW NANCYCOMMISSIONERS' JOURNAL 06/26/2007 03;00;19 PM
COUNSEL 111111111111111111111111111111111111111111
2007-1265
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. 2007-063
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 land and constructing and equipping a jail facility (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 $45,000,000.
The foregoing Resolution adopted this till day of June, 2007.
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNW, OREGON
T
PAGE ( OF 2-RFsor..UTroN No. 2007-063 (6/20/07)
DAEV Chair
, Vic
Record of Adoption Vote
Commissioner
Yes
Michael M. Daly
y
Dennis R. Luke
✓
Tammy Baney
ATTEST:
6pa,��(6�
Recording Secretary
PAGE 2 OF 2 -RESOLUTION NO. 2007-063 (6/20/07)
No Abstain Excused