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1~~f `,1j,'~~~ <br />~,,,,,~~ <br />~ <br />~~ -~%~~~~~_. <br />_ _ ..~,A ~~~~~ <br />~~_ <br />LEGAL COUNSEL <br />Michael J. Hansen <br />BOARD OF <br />COMMISSIONERS <br />Mary B. Pearmine <br />Randali Franke <br />Don Wyant, Jr. <br />ASSISTANT LEGAL <br />COUNSEL <br />Bruce T. Armstrong <br />Timothy T.A. Jensen <br />Gloria M. Roy <br />Jane Ellen Stonecipher <br />~'Iarion Count <br />~ <br />oRECON <br />OFFICE OF LEGAL COUNSEL <br />December 14, 1998 <br />TO: Bi ly Wasson, Project Coordinator , <br />We have recorded the correction deed showing Transit's owne~-ship <br />interest of 31.29% interest, and showing the consideration amount of ''~ <br />$1,662,750.60. This will result in a credit to Transit of $569,129.40 I~ also <br />involves a change in the source of the county's equity in the project, si~ce the <br />consideration received has fallen from $2,231,880 to $1,662,750.60. ' <br />andy Curtis, Facilities Manager <br />FROM: Mike Hansen, Legal Counsel ~~ Cti <br />~1 <br />RE: Real Property Acquisition Adjustment <br />Impact on Ex. C, Tax and General Certificate <br />Ed has asked what change this might make to Exhibit C of the Tax and <br />General Certificate. Pve looked at it. I wonder if any change is neede~i. The only <br />difference I see at this point is that the source of equity and the time oP' <br />contribution will change. But, the amount of equity still seems conect~ The <br />contribution has been made. Transit gets "credit", not reimbursement.'', So, the <br />county contribution will come later in a form to be determined. '' <br />It only changes things, if the county will simply contribute less ~quity <br />overall. '' <br />These are my ruminations. Can't say that I really understand tt~is stuff. So, <br />I look to you two to tell me I don't understand. ' <br />Exhibit C and my e-mail with Ed are attached. <br />530 Center Sueet NE, Suite 312, Salem, Oregon 97301-3670 (503)588-5220 Fax (503)37314367 <br />www.open.org/marion <br />