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09/02/98 13:14 <br />09i01/1998 Z8:13 <br />$5035888526 <br />5032B94145 <br />CORRECTIONS WC <br />RS CLEMENTS <br />~~ , :~ , . <br />Courthouse Square Project, Marion County, Oregon <br />522,000,000 Certificates of Participation, Seriea 1998 <br />~dtcative Term Sheet / Suu~iaai ' <br />This Indicative Term Sheet / Suimn~y of Principal ~nancing Issuea ia not a oomplete term st-ezt snd <br />does not purport ta summarize a11 o~the tiarms attd cosiditions, covenants. and other provisioas which will <br />be containdd in the d~finitive legal documentation for the tiansac~ion. Such legal doa:men~tion will ba <br />mntually agreed uQon and may oontain, in addition to th~ pmvisioas outli~cd hare, additional provisions <br />coasidered aPPmPriute and customauy bY the parties. <br />C~ 003/005 <br />PAGE 02 <br />Borrnwer; Marioa County. Oiegoa ("tb.e Counh'") <br />Uae of Praceeds: Pmoeeds wlll he used to ~uad. in paz~ developmen~ design and <br />construction of Courttwuse Squsre ("the Project), an approxima~elY <br />141,362 renmble square ~oa2 ~`rsi") office building, a new bus <br />tranait anter, public areas and subsur~a parking in downtown <br />Salem adjacent w the Marion County Courtho~se. An additional <br />building pad a+ith general dimensions af 277' X SO' will be <br />ce~tstructed at the north end of the block. The $ve-story a~ice <br />buildiag wlll be 90% occupied upon comQleaon Tenants will <br />inclnde the Conaty which will ooc.ropq appmximately 99,036 rsf of <br />o~ice spacc and the Salem Atea'l~tansit Disttict ("Transit'~, which <br />will oc~uPY ePproxima~lY 24,206 r~of officelcustomer scrvice <br />opeiationslr~e~ail space. The County and Transit wiU shaie an <br />appro~mately 5,295 rsf coaference ceater. <br />The Prvjec# will bave approximately 13,633 r~of speculative space <br />tbat wiB eventualty aaommodate the County's long-term e,c~aaion <br />nseds, but will be teased ont during the interim <br />A subsurface parking level contai«ning 2S8 stalls will be shaied by <br />the County, Trancit and futuie teaanLS. <br />Rinsncin~ Amouat: The County anacipates f~nancing spprnacimately 522,000,000 of tl~e <br />' to4a1 cost vf the Project. <br />Cauital SMtcture of Proiect: Soatces o~Ft~& (revfsed ~umbers available week ofAr~gust 3I) <br />Tax~xeaqrt artiSic~s of participsdon S <br />Transit gra~nt total <br />Othe~r sw~es <br />Total $ <br />~jses of Funds <br />Deposii ta Projeet Fund <br />Capitalized intereat <br />Dobt Serviu Reaeive <br />Underuv~iter Disoount <br />Cast of issuana <br />Bond Insurance <br />r~ ~ s <br />