Financial- Debt Services to CH2 - Laserfiche WebLink

Home Browse Search

BEFORE THE BOARD OF COUNTY COMMISSIONERS for MARION COiJNTY, OREGON In the matter of authorizing process for payment of Certificate of Participation principal payments from the Trust for Courthouse Square project RESOLUTION # This matter coming before the Board of Commissioners, to specify which series of debt (Certificate of Participation) relating to Courthouse Square from funds held in trust will be Called (redeemed) by the Trustee upon receipt of the certificate of completion. WHEREA5, the balance remaining in trust for the Courthouse Square project is sufficient to call the June 1, 2002, 2003, 2004 and a portion of 2005 principal payments, plus any administrative costs associated with this call provision of the certificates of participation, and WHEREAS, the funds held with the Treasurer for the Courthouse Square project will be reserved for the principal payments on June 1, 2001, and those outstanding costs remaining on the project which have been incurred but not yet paid, therefore, BE IT RESOLVED that Department of Business Services will proceed in notifying the Trustee holding the funds for the Courthouse Square Project, to transfer the amount of funds to the debt service account to pay the following principal payments: June 1, 2002 $600,000 June l, 2003 $625,000 June 1, 2004 $650,000 June 1, 2005 $425,000 (partially called) AND to notify the County Treasurer of funds to set aside for the Courhouse Square Project to pay the June 1, 2001 principal payment and any outstanding project costs incurred not yet paid. Dated at Salem, Oregon this 14~' day of February, 2001. MARION COUNTY BOARD OF COMMISSIONERS Commissioner Commissioner Commissioner