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l~larion County <br />OREGON <br />SUPPORT SERVICES <br />DEPARTMENT <br />BOARD OF <br />COMMISSIONERS <br />Mary Pe~mine <br />Rarxiall Franke <br />Don Wyarrt Jr. <br />IMERIM COUMY <br />ADMINISTRATOR <br />Jeff Davis <br />DIRECTOR OF <br />SUPPORT <br />SERVICES <br />David M. Hartwig <br />Telepttone: <br />(503) 589-3295 <br />Fmc: <br />(503) 588-5495 <br />(503j 588-7951 <br />aws~onis: <br />Business SeMces <br />Fadiftles <br />H~xnan seMoes <br />Infamafion SYsfems <br />rtisk Mpr~erner,r <br />November 10, 1998 <br />Mr. 7onathan Chuvnga <br />Standazd & Poor's <br />555 California Street, 21st Floor <br />San Francisco, California 94104-1502 <br />Re: $22,000,000 Marion County, Oregon <br />Certificates of Participation <br />(Courthouse Squaze Project) 1998 Series A <br />Dear Mr. Chirunga: <br />Please find enclosed a package related to the planned issuance of $22,000,000 <br />Certificates of Participation by Ma.rion County, Oregon (the "County") for the <br />Courthouse Square Project (the "Project"). The County is interested in securing <br />an underlying rating for its proposed financing. <br />As described in the financing documents, the proceeds from the financing will be <br />used to pay the County's share of the Project. The Project is a joint effort between <br />the County and the Sa1em Area Mass Transit District (the "District") and consists <br />of a new bus transit center, public azeas, subsurface parking and an appro~mately <br />141,362 rentable square foot office building in downtown Sa1em adjacent to the <br />Marion County Courthouse. Upon completion, approximately 90% of the office <br />building will be occupied. The County will occupy roughly 99,036 rentable square <br />feet ("rsf') of office space, the District will occupy roughly 24,206 rsf and 13,633 <br />rsf will be leased until needed to accommodate the County's long-term expansion <br />needs. In addition, the County and the District will share an approximately 5,295 <br />rsf conference center. <br />I have enclosed the following: <br />Finance and Trust Agreement <br />Site and Condo Mortgage <br />~ <br />Roduoe Reuse Rocycle Rocova <br />3150 Lancaster Drive NE • Salem, Oreyon 97305 <br />wuuw.open.org/marion <br />