2016-218-Resolution No. 2016-025 Recorded 6/3/2016COUNTY
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2016.218
1� �n COMMISSIONERS' JOURNAL 06/03/2016 02:33:49 PM
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-218
LEGAL COUNSEL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Appropriating Refunding Proceeds
to the Deschutes County 2015-2016 Budget * RESOLUTION NO. 2016-025
*
WHEREAS, Deschutes County will receive refunding proceeds totaling $6,277,000; and
WHEREAS, these refunding proceeds need to be appropriated; and
WHEREAS, ORS 294.338(4)(c) allows the appropriation and expenditures of refunding
proceeds designated to specific purposes; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. That the following refunding proceeds be budgeted:
Revenue
601-0000-393.12-00
610-0000-393.12-00
618-0000-393.12-00
TOTAL REVENUE:
Bond Proceeds
Bond Proceeds
Bond Proceeds
$ 556,806
$ 5,285,895
$ 434,299
$ 6,277,000
Section 2. That the following appropriations be made within the 2015-2016 County
Budget:
Expenditures
Materials & Services:
601-1000-452.33-28
610-6200-432.33-28
618-9600-453.33-28
Bond Issuance Costs
Bond Issuance Costs
Bond Issuance Costs
TOTAL MATERIALS & SERVICES
PAGE 1 OF 2 -RESOLUTION NO. 2016-025 (05/23/16)
$ 2,285
$ 21,691
$ 1,782
$ 25,758
Debt Service:
601-1000-471.81-01 Principal $ 553,081
610-6200-471.81-01 Principal $ 5,250,526
618-1000-471.81-01 Principal $ 431,393
601-1000-472.81-02 Interest $ 1,441
610-9200-472.81-02 Interest $ 13,678
618-1000-472.81-02 Interest $ 1,123
TOTAL DEBT SERVICE $ 6,251,242
TOTAL EXPENDITURES S 6.277M00
Section 2. That the Finance Director make the appropriate entries in the Deschutes County
Budget document to show the above appropriations.��
DATED this ' • 7- r -day of May, 2016.
ATTEST:
Recording Secretary
PAGE 2 OF 2-RESOL.uTION NO. 2016-025 (05/23/16)
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
aid a 44P A
AL N\ JNGER, Chair
1F) / /
TA Y BANEY, e -Chair
ANTHONY DEBONE, Commissioner
Lacy Nichols
From: Jeanine Faria
Sent: Tuesday, May 03, 2016 3:57 PM
To: Wayne Lowry
Cc: Lacy Nichols
Subject: Supplemental Budget
Attachments: Supplemental Budget Fund 601, 610, 618.xls
Follow Up Flag: Follow up
Flag Status: Flagged
Attached is the Excel file as support for the resolution to appropriate the refunding proceeds. While preparing this
schedule, 1 realized that Kieu-Oanh has a minor error in the closing memorandum . There is no impact on any of the
amounts to be paid. The costs of issuance total $25,757.85. This is $7,500 to the bank and closing, $18,000 for financial
advisor and legal and $257.85 to be applied to future debt service. The reference is to $18,500 in item #3 on the closing
memorandum. This need to be $18,000. I've sent an email to Kieu-Oanh.
Bond Proceeds $6,277,000
Principal refunded $6,235,000
Interest—June 1, 2016—June 24, 2016 $16,242.15
Bank Fee $7,500
Other cost of issuance $18,000
Additional for next debt service $257.85
Jeanine
Deschutes County Finance
541-385-1411
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