Res 1777 - Reimburse Bond
COUNCIL BILL NO. 2547
RESOLUTION NO. 1777
A RESOLUTION DECLARING THE CITY'S INTENT TO REIMBURSE EXPENDITURES WITH
THE PROCEEDS OF A FUTURE ISSUE OF GENERAL OBLIGATION BONDS AND
SPECIFYING AUTHORIZED USES OF GENERAL OBLIGATION BOND PROCEEDS.
THE CITY OF WOODBURN RESOLVES AS FOLLOWS:
Section 1. The City of Woodburn, Oregon (the "City") expects to make
expenditures from its available funds to pay for the costs of constructing,
equipping, and furnishing a City Police Facility; construct parking facilities; retire
debt related to purchasing property for this facility; construct related
improvements and pay all costs incidental thereto (the "Project").
Section 2. The City reasonably expects to issue general obligation bonds
approved by the voters at the November 2, 2004 general election (the "Bonds")
and to use the proceeds of the Bonds to reimburse the City for the expenditures
it makes from its available funds for the Project.
Section 3. To permit interest on the Bonds to be excludable from gross
income, the Internal Revenue Code of the United States requires that the City
declare its intent to reimburse itself from Bond proceeds within 60 days after the
expenditures are made and the City so declares.
Section 4. The City expects that the principal amount of the Bonds will not
exceed $7,066,000.
Section 5. The City hereby adopts this Resolution specifying the
authorized uses of Bond proceeds and authorizing the publication of a Notice of
Adoption of Resolution Specifying Uses of Bond Proceeds. Such authorized uses
are specified in the tables attached hereto as Exhibit B attached hereto.
Pursuant to ORS 305.583(9)(d)(B), any challenge to the use of Bond proceeds
must be filed within sixty (60) days after the date of this Resolution. The City
Recorder is hereby authorized and directed to cause to be published a notice
in a newspaper of general circulation in Marion County, Oregon of the City's
adoption of this Resolution and specification of authorized uses of Bond
proceeds in substantially the form of the notice as shown on Exhibit A attached
hereto, within 15 days after passage of this Resolution and which meets the
requirements of ORS 305.583(9).
Page 1 - Council Bill No. 2547
Resolution No. 1777
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Approved as to form:C-;;'
City Attorney
\Z-fQ-ZvJlf
.Dele
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
December 15, 2004
December 15. 2004
Filed in the Office of the Recorder
December 15. 2004
ATTEST: j11c~~ ~.
Mary ~ant City Recorder
City of Woodburn, Oregon
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Resolution No. 1777
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EXHIBIT A
NOTICE OF ADOPTION OF RESOLUTION
SPECIFYING USES OF BOND PROCEEDS
The City of Woodburn, Marion County, Oregon (the "City") hereby gives
notice that on December _' 2004 the City Council adopted its Resolution No.
(the "Resolution") which specified, pursuant to ORS 305.583(8) (b), the
authorized uses of the proceeds of the City's general obligation bonds that
were approved by the voters of the City on November 2, 2004.
A complete copy of the Resolution may be obtained by contacting Mary
Tennant, City Recorder, 270 Montgomery Street, Woodburn, Oregon, 97071,
telephone (503) 982-5210. A judicial review of the City's use of bond proceeds
may be sought within 60 days of the date of the Resolution pursuant to ORS
305.583.
This notice is published pursuant to ORS 305.583(8)(b).
CITY OF WOODBURN
MARION COUNTY, OREGON
Mary Tennant, City Recorder
Published:
,2004
[This notice is to be published in the general news section (not in the
classified advertisements) of a newspaper of general circulation in Marion
County, within 15 days of the adoption of the Resolution. The notice shall
measure at least three inches square and be printed in a type size at least equal
to 8-point type.]
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Resolution No. 1777
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Exhibit B
GO Bond proceeds will be used to pay the costs of capital construction and
capital improvements related to the construction of a City Police Facility,
including costs of the following nature:
~ Professional services related to design, architectural, engineering, arborist,
legal, traffic analysis and project management
~ Retiring of debt related to purchasing property for the City Police Facility
~ Site improvements
~ Off-site improvements
~ Construction of associated parking facilities.
Proceeds will also be used to pay for the costs of furnishings acquired in
connection with the construction of the City Police Facility and supplies and
equipment intrinsic to the City Police Facility. Such furnishings, supplies and
equipment include the following:
Systems Furniture & Fixtures
White Boards
Projection Screens
Built in Shelving & Book Cases
Chairs
Built in Tables
Tack Boards
Heavy Duty Shelving
Rolling Storage Systems
Built in Appliances
Internal Security, Surveillance,
and Access Systems
Locker Types: Gun, Evidence,
Personal, Duty Bag
Evidence Storage Cages
Gun Racks
Emergency Power System
Powered Air Ducting Systems
Video Monitor/Camera
Mounting Systems
Floor coverings
Wall coverings
Specialty Counter Materials
Phone & Data Wiring Systems
Bathroom Fixtures
Penalware Bathroom Fixtures
Emergency Showers &
Eyewashes
Drinking Fountains
Bullet Traps
Internal Sound Distribution
System
Staff Safety Alarms
Cell Beds
Failsafe Locking Systems
Supplemental Air Handling
Systems
Evidence Racking Systems
Mounted Cabinets &
Casework
The City will also use GO Bond proceeds to pay costs incidental to the GO Bond
issuance.
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Resolution No. 1777
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