RESOLUTION NO. 2008-30
A RESOLUTION OF THE CITY OF HOOD RIVER, HOOD RIVER COUNTY, OREGON, CALLING A MEASURE ELECTION TO SUBMIT TO THE ELECTORS OF THE CITY THE QUESTION OF AUTHORIZING UP TO $6,000,000 OF GENERAL OBLIGATION BONDS TO FINANCE THE COSTS OF CAPITAL CONSTRUCTION AND CAPITAL IMPROVEMENTS; DECLARING INTENT TO REIMBURSE EXPENDITURES; AND RELATED MATTERS.
WHEREAS, the City Council of the City of Hood River, Hood River County, Oregon (the “City”), has determined that a need exists for the City to finance the costs of capital construction and capital improvements, related to the expansion and renovation of the fire station and acquisition of fire and emergency apparatus, as more fully described in the Summary section of Exhibit A attached hereto (the “Project”); and
WHEREAS, the costs of the Project are estimated to be not more than $6,000,000; and
WHEREAS, Oregon Revised Statutes Chapter 287A, subject to voter approval, authorizes the City to issue general obligation bonds (the “Bonds”) to provide funds to finance the costs of the Project and to pay bond issuance costs; and
WHEREAS, the issuance of bonds in a principal amount of $6,000,000 will not result in the City exceeding the debt limitation set forth in ORS 287A.050(2); and
WHEREAS, the City anticipates incurring expenditures (the “Expenditures”) to finance the costs of the Project and wishes to declare its official intent to reimburse itself for any Expenditures it may make from its general funds on the Project from the proceeds of the Bonds, the interest on which shall be excluded from gross income under Section 103 of the Internal Revenue Code of 1986, as amended;
NOW, THEREFORE, the City Council of the City of Hood River, Hood River County,
Oregon, resolves as follows:
1. A measure election is hereby called for the purpose of submitting to the electors of the City the question of contracting general obligation bonded indebtedness in the name of the City in an amount not to exceed $6,000,000. Bond proceeds will be used to finance the Project and pay all Bond issuance costs. The Bonds shall mature over a period of not more than eleven (11) years.
2. The measure election hereby called shall be held in the City on the 4th day of November, 2008. As authorized by the County Clerk of Hood River County, Oregon, and the Oregon Secretary of State, the election shall be conducted by mail pursuant to ORS 254.465 and 254.470.
3. The City authorizes the Mayor, City Manager, City Recorder and the City Finance Director (each an “Authorized Representative”) or a designee of the Authorized Representative to act on behalf of the City and to take such further action as is necessary to carry out the intent and purposes herein in compliance with the applicable provisions of law.
4. Pursuant to ORS 250.275(5) and 250.285, the City Elections Officer shall publish in the next available edition of ____________, or in some other newspaper of general distribution within the City, a notice of receipt of the ballot title including notice that an elector may file a petition for review of the ballot title not later than the seventh business day after the title is filed with the City Elections Officer in substantially the form attached hereto as Exhibit “A” (the “Notice”).
5. Pursuant to ORS 254.095(2) the City directs the City Elections Officer to deliver the Notice to the Hood River County Elections Office not later than September 4, 2008 (61 days prior to the election). The Hood River County Elections Office is required to produce and disseminate a facsimile of the ballot in accordance with ORS Section 254.205.
6. The City hereby declares its official intent to reimburse itself with the proceeds of the Bonds for any of the Expenditures incurred by it prior to the issuance of the Bonds.
7. The law firm of Kirkpatrick & Lockhart Preston Gates Ellis LLP, is hereby appointed to serve as bond counsel with respect to the Bonds. The City will pay the fees and expenses of bond counsel from Bond proceeds.
8. This resolution shall take effect immediately upon its adoption by the City Council.
ADOPTED by the City Council of the City of Hood River, Hood River County, Oregon this ___ day of ___________, 2008.
CITY OF HOOD RIVER
HOOD RIVER COUNTY, OREGON
NOTICE OF BOND ELECTION
CITY OF HOOD RIVER
HOOD RIVER COUNTY, OREGON
NOTICE IS HEREBY GIVEN that on November 4, 2008, an election will be held within the boundaries of the City of Hood River, Hood River County, Oregon. The election shall be conducted by mail. The following question will be submitted to the qualified voters thereof:
CITY OF HOOD RIVER FIRE DEPARTMENT
GENERAL OBLIGATION BOND AUTHORIZATION
Shall the City issue $6,000,000 in general obligation bonds to expand and renovate the fire station and purchase apparatus? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b, Article XI of the Oregon Constitution.
If approved, the bonds would finance the expansion and seismic upgrades of the City’s existing fire station by approximately 14,350 square feet to bring the entire facility to approximately 21,350 square feet. The new station would meet anticipated fire service needs now and for 30 years of community growth. The new station would include expanded and updated administrative offices, a training room, and living quarters. Areas within the facility may be used for meetings, training, health screenings, and an emergency operations center during major disasters. The expanded apparatus bay area would accommodate additional fire fighting apparatus and emergency equipment.
This bond would also finance the acquisition of various new or currently leased fire and emergency vehicles and apparatus, including but not limited to, a fire engine, a salvage/rescue van, a ladder truck, ambulances, and incident support vehicles.
The bonds proceeds may also be used to pay costs of issuing the bonds. The bonds would mature in eleven (11) years or less from the date of issuance and may be issued in one or more series.
Notice is hereby given that a ballot title for a measure referred by the City has been filed with the City Elections Officer on _________, 2008. The ballot title caption is CITY OF HOOD RIVER FIRE DEPARTMENT GENERAL OBLIGATION BOND AUTHORIZATION. An elector may file a petition for review of this ballot title in the Hood River County Circuit Court no later than 5:00 p.m., _____________, 2008 (7 business days after filing of this notice with the City Elections Officer).
Signature of authorized City Election Officer Date signed
Printed name of authorized City Election Officer Title
This legal notice is to be published by the City Elections Officer in Hood River Herald, Hood River, Oregon, or in another newspaper of general distribution within the City.