Financial- Stoel Rives LLP - Laserfiche WebLink

Home Browse Search

,a 12-UB-98 13:55 FR01~- T-475 P.02/10 F-043 STO~L RI VES soo sw F~Fn, Ave, $u~TE Z3Q0 PORTL~wD. ORPGOK 972¢5 E~V-'. O. Ernows~tr. P,u3Tx~t pIRleT I.iKE. i603? 2949235 Fwu: t503~ 220Z4$O ~en[arandum TO: B1LLY WASSON CC: MIKE H.~NSFH, S('OTT CLEMEn~'~, NAIVCV WaTI~iNS FRO~: ~nw, D. E[NOws~:~ R~: REQiJISITtON CERT1FlC'~TES r~fi FLiNUS T() B~ DTSR[~tSEA nT CLUSlIYG DaTE: DFC_FMBFR 8, I99$ Wi~h ~he closin~ ~et far next week, it's time to begin ga~rin~ the information we'll need to disburse funds ai closing. To th~[ end, I arn transmittin~ herewith two farms of Requisition Cer[ifiic~tr~ that will be needed. Th~ explanatiun of these two certificates and ~l~r i~aFormation that will be needed. to complete each is as $allows: The lteim~buraerreent Requisition: The one en~itled "Reiznbursement ltequisition" is to be use o~ for the purpose of reimbursing the County for Project expenditures thar Were Q~rually paid to third parties prror ~o the closing dute. Thus, for example, the various project ~xpendicures that were finznced on an interim basis out of the Solid Wastz int~rfund loan would be reimbursed Pt1tSUaI1t LO Ih1S ~eyLllSltlo~l. Note: The County will not draw moneys [o repay tlae Solid Wa.st~ lo~xa per se. Rather, the County wil! draw anaoneys to reimburse iiselF FUx the expenditures tha[ were Fnanced from the Solid Wa~te loan, and ihen may, of course, use the reimbursemeni mQneys to rep~.y the Solid Waste loan. Also no[e that tk~e County cannor use Certificate proezeds to pay any interes~ on the Solid Waste loan, since such interest is nai pezmit~ed to be reimbursed under applicable IRS rules. 'fo comple~e ~he Reizr~bursement Requisition, the Counry shou}.d fi11 oux ~xhibiE A at~ached r.~ereto wkuch calls for: (1) the claze the expenditure was paid to a third party; (2) the p~.u~pose af ~he expenditure (detaited enougl~ co show that it was a Caurthouse Square exgendi~ure}; anci {3) Mernorandpm Page 1