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MARION COUM'Y, OREGON OFF[CIAL NOTICE OF ITTfEl~T TO ISSUE REYEI~IUE BONDS NOTTCE IS HEREBY GNEN that on March 5, 1997, the Board of County Commissioners ofMarion County, Oregon (the "County") adopted Resolution No. 97-4R (the "Resolution"), a copy ofwhich Re.solution is available for inspectio located att100 ~ h~mb~e~ or~fEthsa u~ Oregon 9 3u01r business hours at the offices of County Clerk ~ BONDS AUTHORIZED: The Resolution authorizes the issuance of revenue bonds in one or more series in estimated a~gregate principal amount ~ not to exceed $28,600,000 (the "Bonds") for the purpos~nancing some or all of the follawing (coliect~~ly, the "Projects"): (1) the County's share of the costs of designing, acquiring and constructior~the Courthouse Square project to be constructed in the City of Salem on the block where the Senator Hotel currently stands; (2) refinancing ttie County's obligations under a lease purchase agreement entered into in 1985 in order to finance the County's acquisition of the Franklin building located at 101 High Street NE in Salem; and (3) a new building to be constructed on land currently owned by the County to house the administration and en~ineering services of the County Department of Public Works. The Courthouse Square project wiil be a multi-use facility consisting of the following elements: a public transit mall; administcative offices and ather governmental facilities for use by the County and the Tr~ansit District; adminitrative office space to accomodate the County's future needs and to be leased to third parties until needed by the County; retail space to be owned by the private developer, and parldng faalities. The County and the Transit District will own an undivided interest as tenants in common in the real property on which Courthouse Square will be located. Eact- of the County, the Transit District and the private developer will own leasehold condominium interests in Courthouse Square. The new Public Works building will be used by the County exclusively for the operations of the Courity Department of Pubtic VVorks relating to the construction, reconstruction, improvement, repair, maintenance, operation and use of public highways, roads, streets and roadside rest areas. SOURCE OF PAYMENT OF BONDS: The County expects that the Bonds will be paid out of the revenues of the County that are duly appropriated for such purpose in accordance with applicable law. The County may appropriate funds for the payment of the Bond's out of other legally available sources of revenue, including existing property taxes and any other excise taxes or other County revenues. No new or special property taxes or other taxes will be levied to pay the amounts owing on the Bonds. RIGHT TO REFER ISSUANCE OF BONDS TO EY.ECTORS FOR APPROVAL: Under the provisions of ORS 288.815, the electors of the County have the ri~ht to file a petition with the County asking to have the question of the issuance of the Bonds refetred to a vote_ k~