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Marion Count~ <br />OREGON <br />SUPPORT SERVICES <br />DEPARTMENT <br />BOARD OF <br />COMMISSIONERS <br />Mary Pecxmine <br />Randall Franke <br />Don Wyarrt Jr. <br />INTERIM COUNiY <br />ADMIN~STRATOR <br />Jeff Davis <br />DIRECTOR OF <br />SUPPORT <br />SERVICES <br />DrnAd M. Hariwig <br />Telephor-e: <br />(503) 5893295 <br />November 10, 1998 <br />Mr. Dan Stone <br />Standazd and Poor's <br />555 California Street, 21~` Floor <br />San Francisco, California 94104-1502 <br />Re: $22,000,000 Marion County, Oregon <br />Certificates of Participation <br />(Courthouse Square Project) 1998 Series A <br />~~ Dear Mr. Stone: <br />(~~ sea-sa~ <br />(503) 588-7951 <br />Please find enclosed a package related to the planned issuance of $22,000,000 <br />°MS~°NS' Certificates of Partici ation b Marion Coun Ore on the "Coun " for the <br />eusiness seMces P Y tY, g ~ tY ) <br />Faa~ Courthouse Square Project (the "Project"). The County is interested in securing an <br />H"r'~10~' ~~ underlying rating for its proposed financing. <br />Informafion 9ystems <br />Rfsk Marxygement <br />As described in the financing documents, the proceeds from the financing will be used to <br />pay the County's shaze of the Project. The Project is a joint effort between the County <br />and the Salem Area Mass Transit District (the "District") and consists of a new bus <br />transit center, public azeas, subsurface pazking and an approximately 141,362 rentable <br />square foot office building in downtown Salem adjacent to the Marion County <br />Courthouse. Upon completion, approximately 90% of the office building will be <br />occupied. The County will occupy roughly 99,036 rentable square feet ("rsf') of office <br />space, the District will occupy roughly 24,206 rsf and 13,633 rsf will be leased until <br />needed to accommodate the County's long-term expansion needs. In addition, the <br />County and the District will shaze an approximately 5,295 rsf conference center. <br />I have enclosed the following: <br />• Finance and Trust Agreement <br />• Site and Condo Mortgage <br />• Intergovemmental Agreement between Marion County and Salem Area <br />Mass Transit <br />• 1995, 1996, 1997 Mazion County Comprehensive Annual Financial <br />Reports <br />~ <br />Roduoe Reuse Rocycle Rxovc 3150 Lancaster Drive NE • Salem, Oregon 97305 <br />