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Financial- Prudential
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Last modified
9/19/2012 3:31:31 PM
Creation date
9/6/2011 5:00:26 PM
Metadata
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Building
RecordID
10220
Title
Financial- Prudential
Company
Marion County
BLDG Date
8/21/1998
Building
Courthouse Square
BLDG Document Type
Finance
Project ID
CS9801 Courthouse Square Construction
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- -....*~:~r;~-::~ . <br />LEGAL COUNSEL <br />Michael J. Hansen <br />BOARD OF <br />COMMISSIONERS <br />Mary B. Pearmine <br />Randall Franke <br />Don Wyant, Jr. <br />ASSISTANT LEGAL <br />COUNSEL <br />Bruce T. Armstrong <br />Timothy T.A. Jensen <br />Gloria M. Roy <br />Jane Ellen Stonecipher <br />RECEIVED <br />1`larion Count~ <br />oREcoN <br />OFFICE OF LEGAL COUNSEL <br />~~ ~ ~ ~~ <br />MARION WOR~ CEN~~~fiI~N;~ <br />October 9, 1998 <br />To: Al Davidson, Marion County Clerk <br />From: Mike Hansen, Marion County Legal Counsel <br />Re: Courthouse Square Financing <br />~ U~~---~ <br />QUESTION: Is the plan to finance the Courthouse Square project by revenue <br />bonds or by COPs subject to the referendum process under the Oregon <br />~...,. Constitution? <br />ANSWER: No. <br />DISCUSSION: In raising this issue, Al, you asked several questions. Let <br />me answer them in order. <br />1. "Is it necessary for the BOC to adopt an ordinance to assume the debt?" <br />No. The actual question concerns adopting an ordinance to issue revenue <br />bonds or COPs. The county may finance the Courthouse Square project by issuing <br />revenue bonds or COPs. Either can be initiated by adoption of a resolution. In <br />fact, the BOC adopted Resolution No. 97-4R on March 5, 1997, authorizing the <br />issuance of revenue bonds to finance the project. <br />2. "If the answer to 1 is yes, is the ordinance considered a legislative act of <br />the Board of Commissioners?" <br />Although your question does not require an answer, let me proceed. No. <br />Not every ordinance is a legislative act. See, Roberts v. Thies, 70 Or App 256, <br />260-61 rev den (1984). A full explanation will follow at question 4. <br />3. "If the BOC does adopt an ordinance in this matter are they prohibited <br />530 Center Street NE, Suite 312, Salem, Oregon 97301-3670 (503)588-5220 Fax (503)373-4367 <br />www.open.org/marion <br />
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