2008-824-Order No. 2008-078 Recorded 8/29/2008*LG VIE NANCYUBLANKENSHIP, COUNTY CLERKDS
COMMISSIONERS' JOURNAL 08/29/2008 08;28;23 AM
CO UNSEL it !1)!2 82
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
An Order approving the issuance, sale, execution
and Delivery of Hospital Revenue Bonds, Series
2008 (Cascade Healthcare Community Inc.), in an
aggregate Principal amount not exceeding * ORDER NO. 2008-078
$90,000,000 issued by The Hospital Facility
Authority of Deschutes County, Oregon
WHEREAS, it appearing before the Board of County Commissioners (the "Board") of
Deschutes County, Oregon (the "County") that The Hospital Facility Authority of Deschutes County,
Oregon (the "Authority") has received a request from Cascade Healthcare Community, Inc., a
nonprofit corporation duly organized and validly existing under the laws of the State of Oregon (the
"Borrower") to issue one or more series of hospital revenue bonds (the "2008 Bonds"), in an aggregate
principal amount not to exceed $90,000,000 to finance or refinance the costs of the following projects:
(i) to fully refund, defease and redeem the Authority's Hospital Revenue Bonds, Series 2005A
(Cascade Healthcare Community, Inc.) (the "2005A Bonds") and (ii) to use proceeds of the 2008
Bonds to pay costs, including financing and legal expenses related to the refunding of the 2005A
Bonds including without limitation, paying any required termination payments in connection with the
termination of an agreement for the exchange of interest rates related to the 2005A Bonds, funding a
debt service reserve fund, if necessary and paying fees and expenses related to any bond insurance or
any credit support facility, if any (collectively, the "Project") and,
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"),
requires that qualified 501(c)(3) bonds be approved by the applicable elected representatives of the
governmental unit issuing such bonds and the applicable elected representatives of the governmental
unit having jurisdiction over the area in which any portion of the Project is located. The Board of
County Commissioners of Deschutes County, Oregon are the applicable elected representatives of the
governmental unit having jurisdiction over the Project located in Deschutes County, Oregon and,
WHEREAS, the Code authorizes the issuance of revenue bonds for a "qualified 501(c)(3)
entity" such as the Borrower and,
WHEREAS, the principal of and interest on the 2008 Bonds will not constitute a debt of
Deschutes County, Oregon or the Authority, nor shall the 2008 Bonds be payable from a tax of any
nature levied upon any property within Deschutes County, Oregon nor any other political subdivision
of the State of Oregon. The Authority has no taxing power. The 2008 Bonds will be payable only
from the revenues and resources provided by the Borrower and its affiliates and from any credit
enhancement arranged by the Borrower and,
WHEREAS, the Board, as the applicable elected representatives of the governmental unit
having jurisdiction over the area in which the Project is located, has been requested to conduct a public
hearing and approve of the issuance of the 2008 Bonds by the Authority. Notice of the public hearing
PAGE 1 of 2 - ORDER NO. 2008-078 (08/27/08)
held by the Board was published August 12, 2008 in the Bend Bulletin. An affidavit of publication of
the Notice is attached hereto as Exhibit A. The public hearing is intended to provide a reasonable
opportunity for members of the public to be heard by the Board regarding the Project. The Board has
conducted the public hearing regarding the issuance of the 2008 Bonds and invited oral and written
comments from the public and,
WHEREAS, the Board finds that it would be in the best interest of the County to approve the
issuance of the 2008 Bonds in one or more series by the Authority pursuant to the requirements of
Section 147(f) of the Code.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESC1 UTES
COUNTY, OREGON, as follows:
As the applicable elected representatives of the governmental unit having jurisdiction over the
area in which the Project is located, and having held the public hearing, the Board approves the
issuance of the 2008 Bonds in one or more series by the Authority in an aggregate principal amount
not exceeding $90,000,000.
DATED this ~ day of August, 2008.
BOARD OF COUNTY COMMISSIONERS
OF DESCHUT OUNTY, OREGON
DE IS R. LUKE, Chair
TAMMY LBAEY) M TON, Vice Chair
ATTEST:
//~A? JC4
Recording Secretary M C L M. DA , Co ssioner
PAGE 2 of 2 - ORDER NO. 2008-078 (08/27/08)
Affidavit of Publication
STATE OF OREGON, COUNTY OF DESCHUTES
I, Katelynd Perkins, a citizen of the United States and a resident of the county aforesaid; I am
over the age of eighteen years, and not party to or interested in the above-entitled matter. I am
the principal clerk of the printer of
The Bulletin
a daily newspaper of general circulation, published in the aforesaid county and state as defined
by ORS 193.010 and ORS 193.020, that
Acct Name: CASCADE HEALTHCARE COMMUNITY,
Legal Description: LEGAL NOTICE
NOTICE OF PUBLIC HEARING
August 27, 2008
a printed copy of which is hereto affixed was published in each regular and entire issue of the
said newspaper and not in any supplement thereof on the following dates, to wit:
08/12/2008
I certify (or declare) under penalty of perjury that the foregoing is true and correct.
Dated at Bend, Oregon, this 13 day of August, 2008. 4"V4 4~? j I
Signature
OFFICIAL SEAL
LORI LAMONT
NOTARY PUBLIC-OREGON
COMMISSION NO. 394526
My COMMISSION EXPIRES JULY 06, 2009
No.
In the
STATE OF OREGON
for the
COUNTY OF DESCHUTES
Court of the
AFFIDAVIT OF PUBLICATION
Filed
By
From the Office of
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