2008-43-Resolution No. 2008-007 Recorded 1/25/2008Q
DESCHUTES
COUNTY CLERK DS 1�J 2008'43
- REVIE}X�ED NANCYCOMMISSIONERS' JOURNAL 01/25/2008 01:45:44 PM
LEGAL COUNSEL VIII I IIIIIIIIIIIIIIIIII III
200 -4S
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. 2008-007
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 and improving property at 63319 Jamison Street in
Bend, Oregon (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 $3,500,000.
r
The foregoing Resolution adopted this day of January, 2008.
ATTEST:
Recording Secretary
Record of Adoption Vote
Commissioner
Dennis R. Luke
Tammv Banev-Melton
Michael M. Daly
I'AGE 1 OF I-RESOL.UTIONNO. 2008-007 (1/23/08)
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTDKWUNTY, OREGON
TAMMY BANEY-MELTON, Vice -Chair
MICHAEL M. DALY, Commissioner
Yes No Abstain Excused
V
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