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69/011~99E 18:13 50~2E94145 RS CLEMENTS PAGE 02 <br />DraR 8/3I/98 <br />Courthouse Square Project, Marion County, Oregon <br />522,000,000 Certificates of Participation, Series 1998 <br />Indlcatlve Term Shact / Su~,,.m~ao~ rv 9f Princ;nal Financing Ieauee <br />This Indicative Term Sheet / Summary of Principal ~nancing Issues is not a camplete term sheet and <br />does not purport ta summarize all af the teims and conditions, cwenants, and orher provisions whic]i will <br />be contained in the definitive legal documentation for the tiansactiun. Such legal da~menration will be <br />mutually agreed upon and may contaim, in addition to the provisions outlined here, additional provisions <br />consider~ed appropriate and customary by the parbies. <br />Borrnwer: Marion County, Oregon ("the Cownty") <br />U~c of Proceeds: Proceeds will be used to fund, in par~ development, desigzt and <br />construction af Courthouse Square ("the Project), an agproximateIy <br />141,362 tentable square ~oot ("rsP') office building, a new bus <br />tiansit center, public areas and subsur~ace parking in downtown <br />SaIem adjacent to the Marion County Courthovse. An additaonat <br />building pad with general dimeasions of 27T X 50' wi11 be <br />constructed at the north end of th+e block. The five-story affice <br />building will be 90% occupied upon compietion. Tenants will <br />include the County which will oocupy approximately 99,036 rsf of <br />o~6ice space and the Salem Area 1Yansit District ("Transit"), which <br />will oc~py approximately 24,206 rsf of office/customer service <br />operations/retail space, The County and Transit will share an <br />appm~.mately 5,295 rsf oonference center. <br />The Project will have approximately 13,633 rsf of speculative space <br />that will eventually accommodate the County's long-term expansion <br />needs, but will be Ieased out during the interim_ <br />A subsurface parking level contai~ning 258 stalls will be sUated by <br />the County, Transit and future tenants. <br />Ri_nnncine Amount: The County anticipates f~nancing appmximateIy $22,000,000 of tlte <br />tvtal cost of the Projoct. <br />CAnital Structure of Proiect: Sotuces o~Ft~ds (revised numbers a~+aflable week ofAugusr 31) <br />Tax-exempt certiScates of participation $ <br />Transit grant total <br />Oiher sources <br />Total g <br />Uses of Funds <br />Delwsit to Project Fund <br />Capiialized interest <br />Debt Service Reserve <br />Undervv~iter Discount <br />Cost of issuance <br />Bond Ins~usnce <br />Total $ <br />